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Business Research Data Mining Techniques

1. What secondary research sources do you use in your position? Describe the type of data that you are able to pull from one of these sources and how you use this in your job.

2. What is data mining? What application do you see with this technique in your line of work?

3. What is exploratory research and how does it differ from causal research?

4. Describe a business situation that you may have faced or can anticipate that would be able to use regression analysis. How would regression analysis help in that situation?

5. What does it tell you when you get a correlation between two variables? How large should the correlation coefficient be before you would be confident that the two variables are indeed related?

6. A survey by USA Today investigated the public's attitude toward the federal deficit. Each sampled citizen was classified as to whether they felt the government should reduce the deficit, increase the deficit, or if they had no opinion. The sample results of the study by gender are reported below. Is there a significant difference (at .05) between how men and women view the deficit?

Gender Reduce the Deficit Increase the Deficit No Opinion
Female 244 194 68
Male 305 114 25

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SECONDARY SOURCES AND CHI- SQUARE TEST

1. What secondary research sources do you use in your position?

For a position related to business, particularly marketing, the following secondary sources may be utilized:
I. Reference guides
• Encyclopaedia of Business Information Sources
II. Indexes
• ABI Inform
III. Dictionaries and encyclopaedias
• Dictionary of Marketing Terms
• Encyclopaedia of Consumer Brands
IV. Books
V. Journals/newspapers

Describe the type of data that you are able to pull from one of these sources and how you use this in your job.
1. The reference guides refer a researcher to different types of other reference materials, including specific titles. The use of these guides will ensure adequacy of data that will be needed in coming up with marketing and other business decisions. Data obtained from the different references often times complement each other. At times, data obtained from one source validate the data obtained from other sources.
2. The dictionaries and encyclopaedias are very important in clarifying the meanings of the terms, especially the business terms. Such definitions would allow the researcher to identify the variables that need to be included in the study.
3. The data coming from books would provide other literature such as concepts and theories that would serve as a foundation in the marketing/business study that has to be prepared in relation to a business-related position.

2. What is data mining? What application do you see with this technique in your line of work?

Data mining is extracting meanings from the massive amount of information gathered in order to provide possible answers to the research questions. Information gathered that were not ...

Solution Summary

Business research data mining techniques are examined.

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