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Data mining Essay Examples

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Applications of Data Mining in the areas of Marketing Communications

Introduction In the information age, technological advancements have facilitated the collection of large amounts of information on various fields to include military intelligence, scientific and business data amongst several others. Computers are able to sort out this data with the aid of database management systems. Data can be classified according to predefined criteria. Data mining…

Data mining techniques

2.1Assuming that data mining techniques are to be used in the following cases, identify whether the task required is supervised or unsupervised learning. a.Supervised-Deciding whether to issue a loan to an applicant based on demographic and financial data (with reference to a database of similar data on prior customers). b.Unsupervised-In an online bookstore, making recommendations…

Database and Data Mining

I) For the first row, explain the “conf. %” output and how it is calculated. It includes the following interpretations: The Confidence of rule # 2 is 60.19 %( Or it is marginally over 60 %.) Confidence shows the rate at which consequents will occur. In this case the consequents are Brushes and Concealer as the…

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Data Mining and Data Warehouse

ABSTRACT Data mining, the extraction of hidden predictive information from large databases, is a powerful new technology with great potential to help companies focus on the most important information in their data ware houses. Data mining tools predict future trends and behaviors, allowing businesses to make proactive, knowledge- driven decisions systems. Data warehouse is a…

War
Statistical Learning and Data Mining

Overview: Efficient asset allocation through statistical learning methods and comparison of methods for the creation of an index tracking ETF (Exchange traded fund) Datasets: The datasets are chosen from the website of the book “Statistics and Data Analysis for Financial Engineering” by David Ruppert. The book is mentioned as one of the references for this…

Hesitation of Managed Care to Use Data Mining

One of the biggest hesitations would have to be cost to build an implement such a system. The technique depends on an organization having “clean” data to analyze, which requires data being scrubbed and moved to data warehouses. Many payers lack the money and manpower to build and maintain these warehouses. (Kongstvedt, P., Capagemini). In…

Data Mining

What is meant by the term “lift”? The term “lift” describes the improved performance of an exact or specific amount of effort on a modeled sampling, as opposed to a random sampling (Spang, 2010). In other words, if you are able to market via a model to say, a given number of random customers (e.g….

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