DECA Sports and Entertainment Marketing Practice Exam

What is the term used for the process of using technology to extract meaningful insights from data?

1. Data mining

2. Big data analytics

3. Information retrieval

4. Data harvesting

The correct answer is: Data mining

The term for the process of using technology to extract meaningful insights from data is data mining. This concept refers to the techniques and tools used to analyze large sets of data in order to discover patterns, correlations, and trends that can inform decision-making. Data mining encompasses various methods from statistics, machine learning, and database management to sift through substantial volumes of data and identify valuable insights that might not be immediately apparent. Big data analytics, while related, specifically refers to the examination of large and complex datasets that traditional data processing tools may struggle to handle. Information retrieval deals with finding and retrieving information from databases or the internet, which does not necessarily involve extracting insights from data in the way data mining does. Data harvesting implies the collection of data, often in large amounts, but does not encompass the analytical aspect of converting that data into meaningful insights, as data mining does. This distinction highlights why data mining is the correct term for the process in question.