DATA as duplicate. Traditionally, the data was

DATAMININGData mining derivesits name from the similarities between searching for valuable information in alarge database and mining a mountain for a vein of valuable ore. Data mining is the process ofevaluating and analyzing already existing data to figure out patterns andforecasts. The data which already exists in an organization is used again byapplying several tools and techniques to it to calculate the future results orforecast it to figure out a pattern.

 Data mining can also be described as the analysis of often largeobservational data sets to find the unsuspected relationship and to summarizethe data in a simple way that is understandable and useful to the dataowner.  It is also referred to asSecondary data analysis. Microsoft Access is a popular database managementsystem that small business can use to create complete accounting systems inwhich accountants can use data mining tools/data manipulation tools such asqueries and online analytical processing tools to get information extracts fromthe database such as individual accounting entries and hence make correctionsin errors such as duplicate. Traditionally, the data was collected byconducting surveys and involved moving from one house or office to another soas to collect the data, which was tedious and time – consuming. This problemhas been solved overtime with the help of computers and Software to collect,store and analyze data. We need data for all the statistical test andtechniques and thus data mining is very useful in the statistical world. Datamining, therefore, involves the process of collecting data, storing the data,maintaining the data as well as analyzing this data using statisticalmathematical and computer science methods so as to develop meaningful anduseful information.

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The black swan theory is an outlier which operates beyond the realm of regular expectationsand carries extreme impactwhich can be explained and predicted. It analyses different episodes which areoutliers as well as unpredictable extreme events. These episodes have a greatimpact on both the respective field of occurrence as well as the society. Themain idea of the black swan theory is not just to predict the Black swan eventsbut to develop preparedness to the negative events that are bound to occurwhile being able to tap and capitalize on the positive events. An example of acommon black swan is the Second World War when atomic bombs destroyed majorinvestments in two Japan cities of Hiroshima and Nagasaki.

The black swantheory is of the view that human beings are afraid to move out of our comfortzones, and are uncomfortable to make decisions that deviate from the commonbelief due to the fear of making wrong decisions. Black swan theory is,therefore, a philosophical theory that studies daily unpredictable life eventswhich are more common than what people imagine and hence these events cannot bewished away. Taleb observes that more educated persons are the most likelyvictims of the black swan theory’ as they tend to believe that un predictableevents are fewer and less common’ thus information over flow can sometimes actas an impediment to making proper judgment such as interpreting data accuratelyso as to create co relations that are relevant. Black swan theory tends tosupport the study of statistics which involves analysis of data to predictfuture events i.e. through the use of probability techniques. Black swan theoryobserves that rare events occurs much more frequently that we thought and wetend to only attend to what we had already seen before “expect the expected”.

In the business world through the study of statistics and other domains such asprobability, there is a greater reward inform of business profits throughstudying and predicting rare events. The black swan theory further elaboratesthat we do much less thinking than we believe we do. The black swan theorytouches on risk management and highlights strategies of risk management andassessment such as risk avoidance, risk reduction, risk retention as well asrisk transfer. Black swan theory is therefore of the view that organizationsshould constantly perform data mining as the business environment is dynamicand rapidly changes due to internal and external factors. The business environment today is highly competitive.

In order for an organization to survive for a long period of time they need toconstantly conduct market research and analysis as consumer tastes andpreferences keep on changing. Business managers should therefore anticipate forhuge changes that will hugely disrupt the operations of the business. This caneffectively be achieved through utilizing the huge amounts of data by the useof statistical, mathematical and computer science methods to analyze this dataand hence predict future patterns. This will help the organization to be betterprepared and shielded from huge shocks that may have an immense impact on theorganization in the near future.  Datamining therefore if properly utilized by an organization will ensure that theorganization will continue to survive and even expand despite the rapidenvironmental changes that are bound to happen in the business.The theory of action is a descriptive and normative framework whichexplains different behaviors exhibited by individual, group, or an organization.This theory aims to contribute positively to the basic knowledge of humanbehavior as well as the daily actions and decisions that they make in theirroutine life. The theory of action applies both integration and science to makestudies on the organization behavior.

 The  theory of actionexplains  that, for every human being,there is a huge  discrepancy between whateach individual claims is the  motivatingfactor of their  actions visa vi theactual factors motivating their actions, and specifically in cases whereindividual’s  ego come into play orconsideration.  Argyris’s theory of action explains further that organizations as wellas individuals past and present socializations in their daily lives plays agreater role in shaping the specific theory of action that they haveestablished for themselves. An individual may develop a theory of action whichis a general belief of the individual and the society but this does not alwaysprevail upon the individual to make a decision in a certain way. The individualwill most at time be controlled by an inner voice when it comes to the actualdecision making  which we can refer to –  the theory in use. The theory in use may notnecessarily be the same as the theory of action which an individual maypublicly state or support. Argyris’s theory of action further explains thatindividuals as well as organizations tend to develop defensive routines. Thedefensive routines are meant to offer cover and shield individuals fromenvironmental threats. The defensive routines can at times be viewed as beingretrogressive by being overly protective to attain individual’s ego of winningand consequently avoiding Argyris further states that individuals have mentalmaps that guide them to take certain actions and not the beliefs or theoriesthat they subscribe to.

Argyrs theory of action observes that there is need forcomparison between the theory in use and the theory of action. A balance has tobe achieved as the theory in use is widely considered to be the individual’sinner feelings which are different from the theory they subscribe to. A studyhas to be conducted to establish the two and this will help us to bridge thegap and provide a link between individual’s goals in an organization and theoverall organization’s goals thus creating a match between intention andoutcome. Argyris acknowledges that more often than not there is a mismatchbetween intention and outcome which can be established and corrected by thesingle loop and double loop learning. This learning helps to detect causes andremedies for the deviation within the established variables.

Single looplearning curve observes that when an error occurs in an organization’ system,individual’s will tend to look for an alternative system that will work exactlythe same as the previous system and hence achieving similar results. Adifferent response is the double loop learning curve which observes that whenan error occurs in an organization system, checks and balances have to beconducted, the system, policies, plans and governing rules are audited so as todetect the exact point of deviation and hence take the necessary cause ofaction. Argyris encourages organizations to enforce the double loop learningcurve which will effectively handle the rapid challenges facing theorganization due to the rapid environmental dynamics.

Double loop enforcementthrough data mining by an organization leads to greater scanning of theenvironment and thus leading to better control as well as minimization of risksand losses. The theory of action therefore enforces the double loop learningcurve through continuous collection and analysis of data as well as subjectingthis data to continuous review thus providing checks and balances. Data miningtherefore will help the organization to study the customer’s past and presenttrends as well as socializations thus predicting consumer needs and standardsthat need to be met by the organization. The Ted talk video describes how it is thatgreat leaders inspire action, why some people are able to achieve things/ whenothers are not.

He explains the brilliant, biologically based “Golden Circle”,a new way of looking at how people approach what they do. He also discusses theLaw of Diffusion of Innovation, and weaves it all together with several brilliantlytold examples, from Apple computer/ to the Wright Brothers, to Martin LutherKing, Jr. Ted talk aims to drive us away from our comfort zones and approachingdaily challenges in innovative ways. The aim is to first internalize why weneed that particular solution to a problem before thinking of what are theavailable solutions at hand. Ted observes that all great leaders think the sameway which is the exact opposite of everybody else. This great way of thinkingis also known as the Golden Circle. We, therefore, need to internalize theimportance and benefits that come along with knowledge before we can go fishingfor this knowledge.

Ted, therefore, challenges organizations to look at thehuge data in their organizations as resources that if well utilized can pushthe organization to have a competitive edge over other organizations.  In conclusion,  both the theory of the Black swan : Why we don’tlearn that we don’t learn by Nassim Nicholas Taleb as well as  Argyris’s “Theories of action” and the SimonSinek Ted Talk- Start With Why all point at the importance of organizations turningthe huge data at their disposal into great resources. The Black swan theoryhighlights that predicting the future may be impossible and that rare eventsoccur more frequently than we expect. Human beings have the notion to always ignorerare events because they underestimate their ignorance.The  Black swan is, therefore, a wakeup call forhuman beings and organizations to engage in the utilization of data mining soas to cushion the organization from these common rare events. Argyris’s Theoryof action also calls for double loop learning curve which entails gettingfeedback from internal events.

Organizations can implement the double loopcurve through data mining. Ted talk – Start with why video emphasizes theimportance of doing things differently. Organizations should thereforeconstantly utilize data mining to have a competitive edge.REFERENCESArgyris, C. (2000). Double?Loop Learning. Wiley Encyclopedia of Management.

Argyris, C., & Schon, D. (1978). Organizationallearning: A theory of action approach. Reading, MA: Addision Wesley.Taleb, N. (2005).

The black swan: Why don’t we learnthat we don’t learn? NY: Random House.S. (2013, September 29). Start With Why – Simon SinekTED talk. Retrieved January 9, 2018, fromhttps://www.youtube.com/watch?v=sioZd3AxmnEShmueli, G., Bruce, P.

C., Patel, N. R., Yahav, I.

,& Lichtendahl Jr, K. C. (2017). Data Mining for Business Analytics: Concepts, Techniques, and Applicationsin R. John Wiley &Sons. 

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