Abstract
Decision makers thirst for answers to questions. As more data is gathered, more questions are posed: Which customers are most likely to respond positively to a marketing campaign, product price change or new product offering? How will the competition react? Which loan applicants are most likely or least likely to default? The ability to raise questions, even those that currently cannot be answered, is a characteristic of a good decision maker. Decision makers no longer have the luxury of making decisions based on gut feeling or intuition. Decisions must be supported by data; otherwise decision makers can expect to be questioned by stockholders, reporters, or attorneys in a court of law. Data mining can support and often direct decision makers in ways that are often counterintuitive. Although data mining can provide considerable insight, there is an “inherent risk that what might be inferred may be private or ethically sensitive” (Fule & Roddick, 2004, p. 159).
Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
