How do you justify data mining to stakeholders?
Data mining is the process of extracting useful insights from large and complex datasets, using various techniques such as classification, clustering, association, and regression. Data mining can help businesses and organizations improve their decision-making, optimize their operations, discover new opportunities, and enhance their customer satisfaction. However, data mining also comes with some challenges and risks, such as data quality, privacy, security, ethics, and fairness. How do you justify data mining to stakeholders, such as managers, clients, regulators, or users, who may have different expectations, concerns, or objections? Here are some tips to help you communicate the value and the limitations of data mining in a clear and convincing way.