CIS 501: Information Systems for Managers Data Mining Problems Introduction Problem 1: Data-Based Decision Making Problem 2: Market Basket Analysis: Association Analysis Problem 3: Market Basket Analysis: Concept Tree/Sequence Analysis Problem 4: Decision Tree Problem 5: Clustering/Nearest Neighbor Classification Problem 6: Clustering Problem 1: Data-Based Decision Making Supermarket Product Placement Suppose that we are responsible for managing product placement within a
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A glimpse of Big Data Jan. 2013 What is big data? “Big data is not a precise term; rather it’s a characterization of the never ending accumulation of all kinds of data‚ most of it unstructured. It describes data sets that are growing exponentially and that are too large‚ too raw or too unstructured for analysis using relational database techniques. Whether terabytes or petabytes‚ the precise amount is less the issue than where the data ends up and how it is used.”------Cite from EMC’s report
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Data mining is a concept that companies use to gain new customers or clients in an effort to make their business and profits grow. The ability to use data mining can result in the accrual of new customers by taking the new information and advertising to customers who are either not currently utilizing the business ’s product or also in winning additional customers that may be purchasing from the competitor. Generally‚ data are any “facts‚ numbers‚ or text that can be processed by a computer.” Today
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Data Mining: What is Data Mining? Overview Generally‚ data mining (sometimes called data or knowledge discovery) is the process of analyzing data from different perspectives and summarizing it into useful information - information that can be used to increase revenue‚ cuts costs‚ or both. Data mining software is one of a number of analytical tools for analyzing data. It allows users to analyze data from many different dimensions or angles‚ categorize it‚ and summarize the relationships identified
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Data Collection QNT/351 July 10‚ 2014 There are many times when companies have to collect data to come to a conclusion about an issue. The data may be collected from their employers‚ their competition or their consumers. BIMS saw that there had been an average turnover that was larger then what the company had seen in the past. Human Resources decided that they would conduct a survey to see what had changed in the company from the employee’s point of view. They attached
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Data Mining Information Systems for Decision Making 10 December 2013 Abstract Data mining the next big thing in technology‚ if used properly it can give businesses the advance knowledge of when they are going to lose customers or make them happy. There are many benefits of data mining and it can be accomplished in different ways. The problem with data mining is that it is only as reliable as the data going in and the way it is handled. There are also privacy concerns with data mining
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Data Warehousing‚ Data Marts and Data Mining Data Marts A data mart is a subset of an organizational data store‚ usually oriented to a specific purpose or major data subject‚ that may be distributed to support business needs. Data marts are analytical data stores designed to focus on specific business functions for a specific community within an organization. Data marts are often derived from subsets of data in a data warehouse‚ though in the bottom-up data warehouse design methodology the data
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Data Mining Abdullah Alshawdhabi Coleman University Simply stated data mining refers to extracting or mining knowledge from large amounts of it. The term is actually a misnomer. Remember that the mining of gold from rocks or sand is referred to as gold mining rather than rock or sand mining. Thus‚ data mining should have been more appropriately named “knowledge mining from data‚” which is unfortunately somewhat long. Knowledge mining‚ a shorter term‚ may not
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Data Mining DeMarcus Montgomery Dr. Janet Durgin CIS 500 June 9‚ 2013 Determine the benefits of data mining to the businesses when employing 1. Predictive analytics to understand the behavior of customers Predictive analytics is business intelligence technology that produces a predictive score for each customer or other organizational element. Assigning these predictive scores is the job of a predictive model‚ which has‚ in turn been trained over your data‚ learning from the experience
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2.1 Assuming 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 to customers concerning additional items to buy based on the buying patterns in prior transactions. c. Supervised-Identifying
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