By Olivia Parr Rud
Increase gains and decrease expenses by using this number of types of the main frequently asked info mining questions
In order to discover new how one can increase patron revenues and help, and in addition to deal with possibility, enterprise managers has to be capable of mine corporation databases. This booklet presents a step by step advisor to making and enforcing versions of the main frequently asked info mining questions. Readers will how one can arrange information to mine, and enhance exact facts mining questions. the writer, who has over ten years of information mining event, additionally offers real validated versions of particular info mining questions for advertising, revenues, customer support and retention, and chance administration. A CD-ROM, offered individually, offers those versions for reader use.
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Elevate gains and decrease expenditures by using this choice of types of the main frequently asked information mining questionsIn order to discover new how one can increase consumer revenues and help, and in addition to deal with possibility, company managers has to be in a position to mine corporation databases. This ebook offers a step by step advisor to making and enforcing types of the main frequently asked facts mining questions.
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Additional info for Data Mining Cookbook: Modeling Data for Marketing, Risk and Customer Relationship Management
And the risk department was not striving for profitable customers; it was simply tasked with managing risk. So the risk department did not consider the fact that the higher-risk customers were much more likely to maintain balances at higher rates, thereby making them much more profitable. Product Focus versus Customer Focus As mentioned earlier, many companies are making the transition from a product focus to a customer focus. The reason for this transition is simple: In many industries it is becoming more difficult to attract new customers.
The graph shows a very linear relationship between sales and advertising. 2 Simple linear regression— linear relationship. AM FL Y ship is the R-square. The R-square measures the amount of the overall variation in the data that is explained by the model. This regression analysis results in an R-square of 70%. This implies that 70% of the variation in sales can be explained by the variation in advertising. Sometimes the relationship between the dependent and independent variables is not linear. In this situation, it may be necessary to transform the independent or predictive variable to allow for a better fit.
There could be numerous groups of "offer detail" fields in a prospect or customer record, each representing an offer for an additional product or service. Offer summary. Date of first offer (for each offer type), best offer (unique to product or service), etc. Model scores. * Response, risk, attrition, profitability scores, and/or any other scores that are created or purchased. * Includes any demographic, psychographic, or behavioral data. Solicitation Mail and Phone Tapes Solicitation tapes are created from either a customer database or a prospect list to provide pertinent information for a campaign.