Predictive Data

Question 1
(a) The organisation that you have selected in 1(a) has collected free-format customer inquiries over the years and would like to do text mining to understand its customers better. Outline, in fewer than 250 words (i.e., all words beyond 300 will not be marked) the major challenges that the organisation is likely to face with the mining of text data. You have to state the number of words used at the end of your answer.  (10 marks)
(b) Briefly discuss, in not more than 300 words (all words beyond 300 will not be marked) one predictive data mining application that can benefit the organisation that you have selected in 1(a). The discussion should cover the following:
i) data mining objective(s),
ii) data to be used,
iii) how the application will help the organisation, and
iv) limitation(s) of the application.
You have to state the number of words used at the end of your answer.  (20 marks)
Question 2
This question requires you to conduct a search for articles reporting successful applications of Big Data analytics in the finance industry. Select an article and based on the selected article, state one possible limitation of the Big Data application discussed in the selected article and suggest one way to overcome this limitation.
You can refer to the case studies in the iSG as a guide.  (10 marks)