A Research Study On Data Mining - 1171 Words

Data mining is the process of discovering patterns, trends, correlations from large amounts of data stored electronically in repositories, using statistical methods, mathematical formulas, and pattern recognition technologies (Sharma n.d.). The main idea is to analyze data from different perspectives and discover useful trends, patterns and associations. As discussed in the previous chapter, the healthcare organizations are producing massive amounts of electronic medical records, which are impossible to process using traditional technologies (e.g., Microsoft excel). Therefore data mining is becoming very popular in this field as it can be used to identify the presence of chronic disease, detect the cause of the disease, analyze the effectiveness of treatment methods, predict different medical events, identify the side effects of the drugs, and so on. Kidney diseases such as CKD or AKI require immediate detection and medical attention based on the patient’s clinical condition, medical history, medication history and some demographical factors. From the literature survey, we discovered a good number of studies and tools that used data mining methods such as clustering, association, and classification to improve the decision-making ability of the healthcare providers regarding kidney disease. In the subsequence sections in this chapter, we present an overview of the data mining methods and discuss how they have been used in existing literature. 4.1. Overview of data miningShow MoreRelatedA Research Study On Data Mining3162 Words   |  13 PagesAbstract Data Mining is the non-trivial extraction of potentially useful information about data. In other words, Data Mining extracts the knowledge or interesting information from large set of structured data that are from different sources. There are various research domains in data mining specifically text mining, web mining, image mining, sequence mining, process mining, graph mining, etc. Data mining applications are used in a range of areas such as it is used for financial data analysis, retailRead MoreResearch Study : Data Mining As A Part Of Education1092 Words   |  5 PagesCASE STUDY A BRIEF INTRO ON CASE STUDY There are growing researches in data mining as a part of education. This new developing field, called Educational Data Mining, concerns with creating techniques that find information from data originate from educational situations. The data can be collected structure verifiable and operational data dwell in the databases of educational establishments. The understudy data can be close to home or scholastic. 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It involves defining associations, or patterns, or frequent item sets, through the analysis of a given data set. Further-more, the discovered knowledge should be valid, novel, useful, and understandable to the user. Many organizations often

The On The Peoples Republic Of China s Economy - 3088 Words

The Peoples Republic of China’s economy is now the second largest in the world with an estimated gross domestic product of $9.24 trillion USD (China, 2014). This is the result of a strict economic reform policy put into place in 1978, which removed emphasis on the agricultural sector and moved to the energy intensive sector of manufacturing. The growing demand for energy often came in the form of highly polluting coal-fired power plants, but in 1992 the Three Gorges Dam was approved with construction beginning in 1994. The world’s largest dam was intended to produce power economically, reduce environmental impacts, and help to prevent floods downstream. However, the Three Gorges Dam is often seen as highly controversial due to foreseen and unforeseen problems that have arisen following its completion in 2012 (Jackson and Sleigh, 2000). The dam may be one of China’s largest environmental oversights and social failure in recent years. For more than 300 years the Ming Dynasty ruled China overseeing great growth and prosperity, the standards of living in China during the 16th century were unparalleled even by the West (Zhu, 2012). During their reign the Great Wall of China was built as well as the Forbidden City in Beijing. In 1644 however, the Manchus overthrew the Central Plain of China resulting in the end of the Ming Dynasty and the creation of the Qing Dynasty. The Qing Dynasty was initially prosperous for the Chinese people, continuing what the Ming Dynasty had builtShow MoreRelatedChina s Problems Of Dystopian Society1426 Words   |  6 PagesChina s Problems Andrew Bond Ms. Underhill HELA November 21 2016 China has been the biggest economic structure for quite along time, but there are horrible reasons for these, and these decisions are made by the people s republic of china. 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Solutions to Supplementary Problems from Scott Textbook 6th Edition free essay sample

Several reasons can be suggested why oil company managers have reservations about RRA: †¢ The discount rate of 10% might not reflect the firm’s cost of capital. †¢ Low reliability. RRA involves making a large number of assumptions and estimates. While SFAS 69 deals with low reliability in part by requiring end-of-period oil and gas prices to be used (rather than prices anticipated when the reserves are expected to be sold), management may feel that end-of-year prices bear little relationship to the actual net revenue the company will receive in the future. Furthermore, management may be concerned about low reliability of other estimates, such as reserve quantities. †¢ Frequent changes in estimates. Conditions in the oil and gas market can change rapidly, making it necessary for the firm to make frequent changes in estimates. †¢ Investors may ignore. Investors may not understand the RRA information. Even if they do, management may believe the RRA information is so unreliable that investors will ignore it. If so, why prepare it? †¢ Legal liability. Management may be concerned that if the RRA estimates are not realized, the firm will be subject to lawsuits from investors. Management’s reservations may be an attempt to limit or avoid liability. 12. a. Most industrial and retail firms regard revenue as earned at the point of sale. Since sale implies a contract with the buyer and change of ownership, this is usually the earliest point at which significant risks and rewards of ownership pass to the buyer, the seller loses control of the items sold (e. g.. , title passes to buyer) and at which the amount of revenue to be received can be determined with reasonable reliability. b. Under RRA, revenue is recognized when oil and gas reserves are proven. This point in the operating cycle does not meet the IAS 18 criteria for revenue recognition. Since the oil and gas are still in the ground and the reserves are not sold, the significant risks and rewards of ownership have not been passed on and control remains with the producer. Also, the large number of revisions to estimates under RRA casts doubt on the reliability of the amount of revenue recognized. Presumably, this is why RRA is presented as supplementary information only. Presumably, however, collection is reasonably assured since oil and gas have ready markets. Note: This question illustrates that the tradeoff between relevance and reliability can be equivalently framed in terms of revenue recognition as well as balance sheet valuation. In effect, balance sheet valuation is in terms of the debit side of asset valuation whereas criteria for revenue recognition are in terms of the credit side. The basic tradeoff is the same, however. In particular, it should be noted that early revenue recognition increases relevance, even though it may lose reliability. 13. a. From a balance sheet perspective under ideal conditions, inventory is valued at current value. This could be the present value of expected future cash receipts from sale, that is, value-in-use. Alternatively, if market value of the inventory is available, it could be valued at its market value, that is, its fair value (the 2 values would be the same if markets work reasonably well, as is the case under ideal conditions). From a revenue recognition perspective, revenue is recognized as the inventory is manufactured or acquired. b. Cost basis accounting for inventory is due to lack of ideal conditions. Then, inventory markets may not work well. If so, Samuelson’s (1965) demonstration does not apply. As a result, market value requires estimation, opening up inventory valuation to error and possible manager bias. Accountants must feel that this reduction in reliability outweighs the greater relevance of current inventory value. Historical cost accounting for inventories is not completely reliable, since firm managers still have some room to manage (i. e. , bias) their reported profitability through their choice of cost methods (FIFO, LIFO, etc. ). Also, historical cost accounting for inventories is accompanied by the lower-of-cost-or-market rule. Then, reliability issues of current valuation re-arise. Furthermore, even the cost of inventories is not always reliable. For example, overhead costs are usually allocated to the cost of manufactured inventory. These costs are affected by manager decisions about allocation rates and production volumes. 14. 25. a. Relevant information is information that enables the prediction of future firm performance, such as future cash flows. Early revenue recognition anticipates these future cash flows, hence it is relevant. Thus, Qwest’s revenue recognition policy provided relevant information.b. Reliable information is information that faithfully represents the firm’s financial position and results of operations. When significant risks and rewards of ownership are transferred to the buyer and the seller loses control over the items transferred, the amount of future cash flows is determined with reasonable representational faithfulness and verifiability, since the purchaser has an obligation to pay. Also, if the amount of cash to be received is determined in an arms-length transaction, the amount of sale is reliable due to lack of possible manager bias. It seems that Qwest’s revenue recognition policy met none of these reliability criteria. The future cash flows were not representationally faithful since there appeared to be no provision for returns, obsolescence, or unforeseen service costs. Furthermore, as evidenced by the later SEC settlements, substantial manager bias is apparent. Obviously, amounts ultimately collectible were not reasonably assured, since the SEC came up with materially different valuations. c. Under ideal conditions, revenue is recognized as production capacity is acquired, since future revenues, or expected revenues, are inputs into the present value calculations. For an oil and gas company, revenue recognition is analogous—revenue is recognized as reserves are discovered or purchased. The reason is that under ideal conditions, future cash flows, or expected future cash flows, are perfectly reliable. There is thus no sacrifice of usefulness in recognizing revenue as early as possible. Note: A superior answer will point out that under ideal conditions net income consists of interest on opening present value (i. e. , accretion of discount), plus or minus abnormal earnings under ideal conditions of uncertainty). These are not operating revenues, however, but simply an effect of the passing of time.