ISDS 2001 Chapter : ISDS Chapter 4 Class Notes
15 Mar 2019
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Chapter 4 data mining for business intelligence. Predictive models in early stages of movie production is effective to minimize investments in flops. Allocating scarce resources to get highest roi (return on investment) They used relevant data and also used classifications. Introduction data mining concepts and definitions, section 4. 1: tom davenport (author of competing on analytics) argued that the latest strategic weapon for companies in analytical decision making. Oakland a"s have used analytics to gain that competitive edge by understanding their customers. Because of the improvement in technology and decreased cost, data base sizes have grown exponentially and the tools are available to analyze these data. The term data mining is relatively new, but has historical roots in traditional statistical analyses from the 1980s. 4 identify successful therapies for illnesses and to discover new drugs reduce fraudulent behavior (insurance claims and credit card usage) identify customer buying patterns reclaim profitable customers aid in market-basket analysis better target customers/clients.
