By Kweku-Muata Osei-Bryson, Corlane Barclay
Supplying insights into the scope of information mining projects, this article examines their socio-economic and criminal implications to stakeholders, organisations and society.
summary: providing insights into the scope of knowledge mining tasks, this article examines their socio-economic and felony implications to stakeholders, enterprises and society
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Extra info for Knowledge Discovery Process and Methods to Enhance Organizational Performance
Sample text
The stated objective also specifies the timely criterion and specifies the time frame during which the business objective must be accomplished for the project to be considered successful. If available, an exploration of the DM projects base (which is a repository of past DM projects) could be used to determine if a similar project has been conducted in the past and note must be taken of the various details of the project such as entities involved, solution chosen, benefits and contingencies, findings, and so on.
Time-Bound There should be clear deadlines for achievement of the business objective. An Integrated KDDM Process Model ◾ 37 to finalize the well-thought through but preliminary business objectives that are set up at the end of the completion of this first task. Consider the following illustrative example that involves the financial services company, Global Credit, that wishes to revise one of its outdated credit-scoring models as a means of meeting one of its organizational goals of improving profit.
Consider the following illustrative example that involves the financial services company, Global Credit, that wishes to revise one of its outdated credit-scoring models as a means of meeting one of its organizational goals of improving profit. ” Based on the past data analysis, it has been observed that a 5% increase in approval rate while maintaining similar loss rates leads to approximately $5 million increase in net profit assuming everything else remains constant. This business objective satisfies the specificity criteria as it relates to at least one high-level organizational objective, in this case, improvement in profits.