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Abstract:
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Traditional statistic courses are taught in almost all business schools. They usually cover the more classic statistical methods. The data used in these courses also tend to be small, well balanced, and organized. With the advances of computer capability, it becomes much easier for students to deal with large amounts of data, and experience the fun and the power of data analysis. The tools students learn in data mining can be applied to a wide range of areas which include banking, health care, market research, manufacturing, and retailing. In order to fully appreciate the results of data mining, students may need a certain level of statistical education. This article discusses the benefits and challenges of teaching data mining to undergraduate business students who have a minimum knowledge of statistics.
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