Electronic Payment Method

Topics: Data mining, Data analysis, Data Pages: 4 (833 words) Published: December 22, 2001

ABC Company operates telecommunications business. Management prepares to launch a new service to the market. The researchers use data mining techniques to obtain information of market profile.

This paper describes how Market Basket Analysis (MBA), Memory Based Reasoning (MBR) and Neural Networks (NN) analyze the data. The data analysis methods generate valuable information for ABC Company constructing the marketing campaign.

Management evaluates the business problems, and converts into the data mining problems. Then they select the right data set and inputs into the data mining models. They collect information from data mining and use it to take actions. These actions bring values to the company. Management measures the results as a feedback to the other research projects.

2.Business Problems

Telecommunications is a heavy competitive market. All telecommunications companies offer similar products and services. ABC Company plans to launch a new service - wireless broadband Internet access. The customers access Internet using GPRS (General Packet Radio Services) through their mobile phones. Although ABC Company captures about 40% of total market share, she understands that only delivery innovative service maintains sustainable competitive advantages.

The competitors such as Sunday, SmartTone also plan to delivery some new services using broadband wireless communication. ABC Company performs data analysis to capture information of customers' attitudes and market situations. Obviously, a new product delivery is a marketing problem. It is suitable to transform into data analysis problem. Management uses techniques to capture the data. Management has a better understanding to existing market.

3.Question 1 - Data Analysis by Market Basket Analysis

3.1.Research Objectives

By using MBA, ABC Company selects data from customer database. MBA is developed from the retail business. Researchers collect data of customers to see the...
Continue Reading

Please join StudyMode to read the full document

You May Also Find These Documents Helpful

  • Electronic Payment Methods Essay
  • Analysis of Electronic Payment Systems Essay
  • Essay on Online Payment Method
  • Methods of Payment in International Trade Essay
  • Electronic Payment System Essay
  • Analysis of Electronic Payment Systems Essay
  • Essay about History of Electronic Payments
  • Payments Method Essay

Become a StudyMode Member

Sign Up - It's Free