Which structured methodology for data mining projects includes phases such as business understanding and data preparation?

The correct methodology for data mining projects that includes critical phases such as business understanding and data preparation is CRISP-DM. This stands for Cross-Industry Standard Process for Data Mining, which is a widely adopted framework.

CRISP-DM is structured into six key phases: business understanding, data understanding, data preparation, modeling, evaluation, and deployment. This methodology emphasizes the importance of understanding the project and business goals before diving into data collection and analysis, ensuring that the outcomes align with strategic business objectives.

Business understanding helps project teams clearly define project goals and formulate the data mining problem, while data preparation involves collecting the necessary data and transforming it into a format suitable for analysis. These initial steps are essential for a successful data mining project, ensuring that the efforts are relevant and actionable.

While other methodologies like KDD (Knowledge Discovery in Databases) and SEMMA (Sample, Explore, Modify, Model, Assess) do outline structured approaches to data mining, they focus on different aspects or may lack the comprehensive nature of the CRISP-DM phases. PRISMA, often associated with systematic reviews in research, does not apply to data mining project methodologies directly, making CRISP-DM the most suitable choice in the context of data mining processes.