A M D 475 Study Guide - Final Guide: Electronic Product Code, Purch Group, Data Mining

• School: Iowa State University
• Department: Apparel, Merchandising and Design
• Course: A M D 475
• Professor: All

Document Summary

Data mining-discovering useful, possible unexpected patterns in data, non trivial extraction of implicit previously unknown data. Market basket- predict occurrence of some product based on occurrence of another product. Data wh. -data obtained at pos. customer q&a is put into the database. Data stored one at a time, linked, 1 to 1 relationships. S- ontime shipment, plan forecast, systems & process. Collaborative filtering?system that produces personalized recommend by compute ppl pref. and find similarities. Advent:shows cust things they might not think of, increase sales, add-ons, cross sales, compliment items. Disadvant: privacy, pop ups, gift purchases, expnsive, best with large # prod. /services. Mass customize. - era is over, retail had pwr, now consumers have pwr(driver) tech-enabler. Intelligent agents-sftware w/out assistance of users by making choices, based on rules of behavior and sftwre developers have identified and built in to sftwre. Readings:datamining- analyze broad buying patterns,should look at abandon shopping carts and why, cf- personal recommendations,