data mining techniques for marketing sales and customer

... that, on a technical level, the data mining effort is working and the data is reasonably accurate This can be quite comforting If the data and the data mining techniques applied to it are powerful ... finding, data mining would help perpetuate an illegal and unethical practice Careful attention to selecting and sampling data for the model set is crucial to successful data mining Data May Be ... where you already have customers and in similar areas Census information can be valuable, both for understanding where concentrations of customers are located and for determining the profile of

Ngày tải lên: 14/08/2014, 11:21

... products and many customers have a similar mix, and the mix is often determined by product bundling and previous marketing efforts Retention and Churn Customer attrition is an important issue for ... Data Mining Applications Start Tracking Customers before They Become Customers It is a good idea to start recording information about prospects even before they become customers Web ... Segmenting the Customer Base Customer segmentation is a popular application of data mining with estab­ lished customers The purpose of segmentation is to tailor products, services, and marketing messages

Ngày tải lên: 14/08/2014, 11:21

... weight for each connec­ tion to the input layer, an additional weight for the bias, and then a connection to the output layer and its bias) For instance, if there are 15 input features and 10 ... searches for the split that reduces entropy (or, equivalently, increases information) by the greatest amount For a binary target variable such as the one shown in Figure 6.5, the formula for the ... example, P(dark) and P(light) are both one half Plugging 0.5 into the entropy formula gives: -1 * (0.5 log2(0.5) + 0.5 log2(0.5)) The first term is for the light dots and the second term is for the dark

Ngày tải lên: 14/08/2014, 11:21

... that provide insight into customer behavior, such as sugar-free items and specific brands, augment the data with virtual items 307 308 Chapter 9 Data Quality The data used for market basket analysis ... resulting in more and more identified transactions, providing analysts with more possibilities for information about customers and their behavior over time Demographic and trending information is ... the point of customer contact and used mainly for operational purposes such as inventory control The data is likely to have mul­ tiple formats, corrections, incompatible code types, and so on Much

Ngày tải lên: 14/08/2014, 11:21

... very valuable for understanding customers Although the roots and terminol­ ogy come from medical research and failure analysis in manufacturing, the concepts are tailor made for marketing Survival ... cus­ tomer databases often contain data on millions of customers and former customers Much of the statistical background of survival analysis is focused on extracting every last bit of information ... on customer tenure These insights into customers feed directly into the marketing process They make it possible to understand how long different groups of customers are likely to be around—and

Ngày tải lên: 14/08/2014, 11:21

... understand the results of data mining, such as clustering and neural networks Used together, OLAP and data mining reinforce each other’s strengths and provide more opportunities for exploiting data ... catalyst for data mining The two technologies work together as partners: ■ ■ Data mining thrives on large amounts of data and the more detailed the data, the better—data that comes from a data warehouse ... data warehouse ■ ■ Data mining thrives on clean and consistent data—capitalizing on the investment in data cleansing tools Data Warehousing, OLAP, and Data Mining ■ ■ The data warehouse environment

Ngày tải lên: 14/08/2014, 11:21

... rates and slightly increas­ ing long term tenure Mining Customer Data When every customer interaction is generating data, there are endless oppor­ tunities for data mining Purchasing patterns and ... benefits and drawbacks, as discussed below Outsourcing Data Mining Companies have varying reasons for considering outsourcing data mining For some, data mining is only an occasional need and so ... IT-based data mining projects Building the Data Mining Environment Building a Data Mining Group in the Business Units The alternative to putting the data mining group where the data and comput­

Ngày tải lên: 14/08/2014, 11:21

... data mining technique or techniques to apply depends on the particular data mining task to be accomplished and on the data available for analysis Before deciding on a data mining ... of data mining tasks and under­ stand the nature of the available data in terms of the content and types of the data fields Formulate... processes and systems to incorporate data ... Preparing Data for Mining 593 WARNING Wthe most pernicious data problem are the ones you don’t know about. For this reason, data mining cannot be performed in a vacuum; input from business people and

Ngày tải lên: 14/08/2014, 11:21

... only during the data step and must be declared by name for each new data step The next step calculates the means for each of the 61 variables and creates an output data set called ... step creates two temporary data sets, hr and lr, that are brought together in the final step to create the data set ch10.telco: data ch10.creddata; set ch10.creddata; if bkruptcy = 1 or chargoff ... with business data are identical to those of working with individual and household data. Response models are the most widely used and work for almost any industry. From banks and insurance companies

Ngày tải lên: 21/06/2014, 13:20

... to marketing, branding, and customers are being reinvented. Now customer data from Web page views to purchase and customer service data can be tracked on the Internet for such industries as packaged ... companies to gather information, perform data mining and modeling, and design offers in real time, thus reaching the goal of true one-to-one marketing. Tom Kehler, president and CEO of Recipio, ... transactional data, and demographic information and therefore can greatly contribute to the development of highly effective marketing strategies. Market basket analysis is a clustering technique useful for

Ngày tải lên: 21/06/2014, 13:20

... components of marketing data intelligence: customer data transformation and customer knowledge discovery Raw data extracted and transformed from a wide array of internal and external databases, ... components of marketing data intelligence: customer data transformation and customer knowledge discovery Raw data extracted and transformed from a wide array of internal and external databases, ... categories: data that are provided and accessible to the users, and data that are generated and analyzed by businesses Before data mining became popular among businesses, customers’ data was generally

Ngày tải lên: 16/09/2016, 17:13

... analyze the data, summarize it and predict future trends Data warehousing and data mining provide techniques for collecting information from distributed databases and then performing data analysis ... Views and Data Warehouse 5.Commercial Data Warehouse Tools 6.FromData Warehousing to Data Mining 6.1 Data Mining Techniques 6.2 Research Issues in Data Mining 6.3 Applications of Data Mining ... THE BOOK Chapter 1: Introduction to Data Warehousing and Data Mining This chapter introduces the concepts and basic vocabulary of data warehousing and data mining Chapter 2: Introduction to Cyber

Ngày tải lên: 23/10/2019, 15:33

... analyze the data, summarize it and predict future trends Data warehousing and data mining provide techniques for collecting information from distributed databases and then performing data analysis ... Views and Data Warehouse 5.Commercial Data Warehouse Tools 6.FromData Warehousing to Data Mining 6.1 Data Mining Techniques 6.2 Research Issues in Data Mining 6.3 Applications of Data Mining ... THE BOOK Chapter 1: Introduction to Data Warehousing and Data Mining This chapter introduces the concepts and basic vocabulary of data warehousing and data mining Chapter 2: Introduction to Cyber

Ngày tải lên: 05/11/2019, 14:18

... of the data mining task, the nature of the available data, and the skills and preferences of the data miner. Data mining comes in two flavors—directed and undirected. Directed data mining ... that, on a technical level, the data mining effort is working and the data is reasonably accurate. This can be quite comforting. If the data and the data mining techniques applied to it are powerful ... corporation to improve its marketing, sales, and customer support operations through a better understanding of its customers. Keep in mind, however, that the data mining techniques and tools described...

Ngày tải lên: 07/04/2014, 11:16

... level data, 96 publications Building the Data Warehouse (Bill Inmon), 474 Business Modeling and Data Mining (Dorian Pyle), 60 Data Preparation for Data Mining (Dorian Pyle), 75 The Data ... 89–90 metadata repository, 484, 491 methodologies data correction, 72–74 data exploration, 64–68 data mining process, 54–55 data selection, 60–64 data transformation, 74–76 data translation, ... Business Modeling and Data Mining, 60 Data Preparation for Data Mining, 75 470643 bindex.qxd 3/8/04 11:08 AM Page 619 C Index 619 calculations, probabilities, 133–135 call detail databases, 37...

Ngày tải lên: 21/06/2014, 04:20

... of the data mining task, the nature of the available data, and the skills and preferences of the data miner. Data mining comes in two flavors—directed and undirected. Directed data mining ... corporation to improve its marketing, sales, and customer support operations through a better understanding of its customers. Keep in mind, however, that the data mining techniques and tools described ... cards, and banking, for example. Adding to the deluge of internal data are external sources of demographic, lifestyle, and credit information on retail customers, and credit, financial, and marketing...

Ngày tải lên: 21/06/2014, 04:20

... before. The newly discovered relationships suggest new hypotheses to test and the data mining process begins all over again. Lessons Learned Data mining comes in two forms. Directed data mining ... California based on data that excludes calls to Los Angeles. Step Six: Transform Data to Bring Information to the Surface Once the data has been assembled and major data problems fixed, the data ... 11:10 AM Page 97 Data Mining Applications 97 mining techniques used to generate the scores. It is worth noting, however, that many of the data mining techniques in this book can and have been...

Ngày tải lên: 21/06/2014, 04:20

... value of their customer data by beginning to track customers from their first response, even before they become customers, and gathering and storing additional information when customers are ... Page 109 Data Mining Applications 109 Start Tracking Customers before They Become Customers It is a good idea to start recording information about prospects even before they become customers. ... Segmenting the Customer Base Customer segmentation is a popular application of data mining with estab- lished customers. The purpose of segmentation is to tailor products, services, and marketing...

Ngày tải lên: 21/06/2014, 04:20

... Use customers in California for the challenger and everyone else for the champion. ■■ Use the 5 percent lowest and 5 percent highest value customers for the challenger, and everyone else for ... percent most recent customers for the challenger, and every- one else for the champion. ■■ Use the customers with telephone numbers for the telemarketing cam- paign; everyone else for the direct ... in several areas: ■■ Data miners tend to ignore measurement error in raw data. ■■ Data miners assume that there is more than enough data and process- ing power. ■■ Data mining assumes dependency...

Ngày tải lên: 21/06/2014, 04:20