Data Mining and the World of Commerce

Data Mining and the World of Commerce

Stephan Kudyba (New Jersey Institute of Technology/Null Sigma Inc.,USA)
Copyright: © 2004 |Pages: 17
DOI: 10.4018/978-1-59140-243-5.ch001
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Despite the research written, the software developed and the business applications that can be enhanced by it, the terms data mining and multivariate modeling continue to stoke uncertainty, complexity and sometimes fear in business managers and strategic decision-makers across industry sectors. Why is this? There are a number of reasons to cite, but probably the most common involves the complex nature of the methodologies incorporated in this analytic technique. The complexity we refer to involves the use of mathematical equations, sophisticated algorithms and advanced search and query techniques, not to mention statistical applications that are utilized in analyzing data. If that is not enough to throw management back on their heels, how about data acquisition, normalization, and model optimization, which are often involved in the process? Let’s add one more attribute to the list, and that is the ability to not only understand these complex methods, but more importantly, to understand when and where they can be used to enhance operational efficiency. Now is there any wonder why data mining continues to be this mysterious phenomenon in the world of commerce? No doubt; however, to dispel some of the uncertainties regarding this issue, the following book will provide the reader with expert input on how these quantitative methods are being used in prominent organizations in a variety of industry sectors to help enhance productivity, efficiency and to some extent, profitability. Before we get into the details of the applied material, the following chapter will provide some general information on what data mining and multivariate modeling is, where it came from, and how it can be used in a corporate setting to enhance operational efficiency.

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Table of Contents
Jim Goodnight
Chapter 1
Stephan Kudyba
Despite the research written, the software developed and the business applications that can be enhanced by it, the terms data mining and... Sample PDF
Data Mining and the World of Commerce
Chapter 2
Àkos Felsõvályi, Jennifer Courant
Banking has changed rapidly over the last decades due to the ability to capture massive data sets easily and the availability of new tools for... Sample PDF
Data Mining and the Banking Sector: Managing Risk in Lending and Credit Card Activities
Chapter 3
Vernon Gerety
“The house always wins” is a common reprise for the empty pocket tourist leaving the gambling tables at Vegas. You do not need to be a professional... Sample PDF
Credit Scoring and Risk Management for Small Business Lending
Chapter 4
Jeff Hoffman
NASA Missions are as varied as the mandate of the agency. From using satellite imaging to study climate change to scanning deep space with the... Sample PDF
The Utilization of Business Intelligence and Data Mining in the Insurance Marketplace
Chapter 5
Navin Sharma
One of the largest direct-selling companies in the world, with sales forces in the U.S. and abroad, sells a line of beauty, health, and fitness... Sample PDF
Sales Force Management in the Consumer Product Industry
Chapter 6
Russ Danstrom, Jeff Nicola
The current state of the healthcare industry is one of flux and change. Countless articles and books have been written about the topic, and most... Sample PDF
The Healthcare Cost Dilemma: What Health Insurance Companies Can Do to Mitigate Unsustainable Premium Increases
Chapter 7
Theodore L. Perry, Travis Tucker, Laurel R. Hudson, William Gandy, Amy L. Neftzger, Guy B. Hamar
Healthcare has become a data-intensive business. Over the last 30 years, we have seen significant advancements in the areas of health information... Sample PDF
The Application of Data Mining Techniques in Health Plan Population Management: A Disease Management Approach
Chapter 8
Robert Young
At PHD Canada, we deal in “time and space” — a phrase used when the term “media management” draws blank stares at cocktail parties. There are... Sample PDF
Toiling in the Media Data Mines
Chapter 9
David Martin
The idea of panel-based Internet audience measurement was a child of the late 1990s “dot-com” era, where financial analysts hinged predictions of... Sample PDF
Audience Measurement Applications for Online Advertising and E-Commerce
Chapter 10
Nicholas Galletti
The electric industry has undergone a radical transformation over the last five years. Prior to the late 1990s, the industry was heavily regulated.... Sample PDF
Taking a Close Look at the Evolving Utilities Industry: Factors that Drive Volatility and Methods to Help Manage It
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