1. Explain the role of data analysis and data mining in the contemporary organization2. Identifies and explains the ethical implication around gathering,storing and using customer information

Solution 1:
Data analysis:- A process through which data present is cleansed, inspected, transformed and
modeled with objective of finding a new useful information, indicating the new conclusions and
also improving decision making is called analysis of data or data analysis. There are very
different aspects and the perspective to the data analysis that contains multiple skills in different
science and business domains.
Data mining: - It is a process of analyzing various dates and then modeling them to understand
their pattern and forming conclusions based on these perspectives and summarizing them to find
their relationships to solve problems and to produce useful information.
It is a process of finding from the large data sets to identify the patterns and also establish
elationships to solve the problems by data analysis. This tool allows enterprises to predict the
future trends. Data mining is also known as data and knowledge discovery. In general, it is a
process of analyzing the data from the different perspectives and then summarizing it into useful
information. Information which can be used to increase the revenue cuts the costs, or both.
Data mining software is one of the best for analytical tools for analyzing the data. It
allows the users to analyze the data from different angles or dimensions, categorize it, and
summarize the relationship identified. In technical terms, the data mining is a process of finding
the co
elations or the patterns among the dozens of fields in large relational databases.
Why is data analysis important?
Data analysis helps different companies and firms tackle their data and utilize it to form new
conclusions and opportunities. This leads to the organization dealing with more efficient
usiness moves, greater profit, and satisfied customers
https:
en.wikipedia.org/wiki/Data_mining
http:
whatis.techtarget.com/definition/data-set
1. New services and products. With the power to give what the customers desire come the
skills to calculate what the customers need and the satisfaction through analytics. With the help
of Data Analysis, organizations are making new products to fulfill their customer’s desires and
needs.
2. Data management. The data that has to be analyzed should be well governed and has to
e in high quality. It is very important for the firm to establish some process that is repeatable
in order to maintain and build standards for the data quality since there are so many data
frequently out flowing and inflowing from the firm. Once the data is authentic, the firms should
initiate a master data management program that helps the entire firm to be on the same page.
3. Data mining. Data mining is one technology that helps you in examining massive
amounts of facts and figures to discover relationships present in data – and this data can be used
for even further analysis to help in solving the complex company questions. With the help of
this, you can examine through the repetitive and chaotic mess present in the data, and then
point out what’s important and use it to form smarter outcomes. This will help the firm in
speeding up the pace of forming informed decisions.
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