Business Analysis Report Based on Data Mining Concepts - Determine Business Objectives - Business Assignment Help

Assignment Task :

Assessment Description

The goal of this assessment is to develop the business analysis skills of the students through a real-world scenario. In order to do that, each group consists of maximum three students will choose a public data set from the following links after consulting with the Lecturer. Links to public data set: 

After choosing a data set, let’s assume, you have been hired as a data miner / business analyst to do a thorough data mining process on the initiative for an organisation. To do the work properly you will need to consider (and do as you see you fit) all the activities described in the attached document on the data mining process (make any assumptions if required)

Task: Determine business objectives The first objective of the analyst is to thoroughly understand, from a business perspective, what the client really wants to accomplish. Often the customer has many competing objectives and constraints that must be properly balanced. The analyst’s goal is to uncover important factors at the beginning of the project that can influence the final outcome. A likely consequence of neglecting this step would be to expend a great deal of effort producing the correct answers to the wrong questions. 

1.1 Identify the Problem Area (100 words) Identify the problem area (e.g., Marketing, Customer Care, Business Development, etc.). Describe the problem in general terms. Check the current status of the project (e.g., Check if it is already clear within the business unit that we are performing a data mining project or do we need to advertise data mining as a key technology in the business?). Clarify prerequisites of the project (e.g., what is the motivation of the project? Does the business already use data mining?). Identify target groups for the project result (e.g., Do we expect a written report for top management or do we expect a running system that is used by naive end users?). Identify the users’ needs and expectations. 

1.2 Output: Business objectives (100 words) Describe the customer’s primary objective, from a business perspective, in the data mining project. In addition to the primary business objective, there are typically a large number of related business questions that the customer would like to address. For example, the primary business goal might be to keep current customers by predicting when they are prone to move to a competitor, while secondary business objectives might be to determine whether lower fees affect only one particular segment of customers. Informally describe the problem which is supposed to be solved with data mining. Specify all business questions as precisely as possible. Specify any other business requirements (e.g., the business does not want to lose any customers). Specify expected benefits in business terms. 

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