→ Predictive modelling uses statistics to predict outcomes. Most often the event one wants to predict is in the future, but predictive modelling can be applied to any type of unknown event,regardless of when it occurred. For example, predictive models are often used to detect crimes and identify suspects, after the crime has taken place.
→ Predictive analytics encompasses a variety of statistical techniques from data mining, predictive modelling, and machine learning, that analyze current and historical facts to make predictions about future or otherwise unknown events.

→ Classification rules are extracted from decision tree. The paths from root to leaf represent classification rules. → A decision tree is a decision support tool that uses a tree-like model of decisions and their possible consequences, including chance event outcomes, resource costs, and utility.

→ COBWEB is an incremental system for hierarchical conceptual clustering. COBWEB incrementally organizes observations into a classification tree. Each node in a classification tree represents a class (concept) and is labeled by a probabilistic concept that summarizes the attribute-value distributions of objects classified under the node. This classification tree can be used to predict missing attributes or the class of a new object. There are four basic operations COBWEB employs in building the classification tree.
1. Merging Two Nodes
2. Splitting a node
3. Inserting a new node
4. Passing an object down the hierarchy
→ Common Object Request Broker Architecture (CORBA) is an architecture and specification for creating, distributing, and managing distributed program objects in a network. It allows programs at different locations and developed by different vendors to communicate in a network through an "interface broker." CORBA was developed by a consortium of vendors through the Object Management Group (OMG), which currently includes over 500 member companies.
→ STRING and OLAD is irrelevant options.

TRUE: Strategic value of data mining is timestamping.
TRUE: Information collection is an expensive process in building an expert system.
→ An expert system is a computer system that emulates the decision making ability of a human expert.