Predictive Analytics and Relationship to Data Mining

Analyze data mining in a minimum 1,400-word report and include the following:Explain the importance of data mining, and examine its implementation in real-world scenarios.Summarize the misconceptions of data mining.Critique the confusion of data mining with Online Analytical Processing (OLAP).Analyze the importance of statistical analysis and machine learning techniques in data mining.Cite a minimum of 1 reference from Chapter 2 of the textbook assigned for this course.Individual Assignment: Predictive Analytics and Relationship to Data MiningPurpose of AssignmentBusiness Analytics has evolved from providing descriptive outcomes based on historical information to helping predict future activities from potential customers or groups leveraging that same information. In order to accomplish it, new techniques have been implemented for mining the information and thus expanding to modeling and predictive analytics.Resources RequiredREAL-WORLD DATA MINING: APPLIED BUSINESS ANALYTICS AND DECISION MAKING. Dursun Delen, (2015). Chapter 2: Introduction to Data MiningGrading GuideContentMetPartially MetNot MetComments:Explain the importance of data mining, and examine its implementation in real-world scenarios. 2Summarize the misconceptions of data mining.2Critique the confusion of data mining with Online Analytical Processing (OLAP).1Analyze the importance of statistical analysis and machine learning techniques in data mining.2The paper is a minimum of 1,400words in length.1Total AvailableTotal Earned8#/8Writing GuidelinesMetPartially MetNot MetComments:The paper — including tables and graphs, headings, a title page, and a reference page — is consistent with APA formatting guidelines and meets course-level requirements..4The paper includes properly cited intellectual property using APA style in-text citations and a reference page..4The paper includes paragraph and sentence transitions that are logical and maintain flow throughout the paper..4The paper includes sentences that are complete, clear, and concise..4The paper follows proper rules of grammar and usage including spelling and punctuation..4Total AvailableTotal Earned2#/2Assignment Total#10#/10Additional comments: