By Meta S. Brown
Facts mining is instantly changing into quintessential to making worth and enterprise momentum. the facility to discover unseen styles hidden within the numbers exhaustively generated by way of day by day operations permits savvy decision-makers to use each device at their disposal within the pursuit of higher enterprise. through growing versions and trying out no matter if styles delay, it's attainable to find new intelligence that can swap your business's complete paradigm for a extra profitable final result. facts Mining for Dummies indicates you why it does not take a knowledge scientist to achieve this virtue, and empowers standard enterprise humans to begin shaping a method proper to their business's wishes. during this publication, you will examine the hows and whys of mining to the depths of your info, and the way to make the case for heavier funding into info mining features.
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Bring up gains and decrease bills by using this choice of versions of the main frequently asked info mining questionsIn order to discover new how you can increase shopper revenues and aid, and in addition to deal with threat, enterprise managers has to be capable of mine corporation databases. This ebook offers a step by step consultant to making and imposing types of the main frequently asked info mining questions.
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Extra resources for Data Mining For Dummies
You’ll almost always have a choice of ways to go about it. For each field, you prepare a brief summary, with a name and description, number of missing cases, and the range of values (low and high). You may also include additional information such as a distribution graph, the average (mean), and most frequently occurring (mode) value of the variable. At this point, you won’t try to relate one variable to another. You start by using software that produces a basic report for each variable in the data, including information such as the range of values, the average for continuous variables, the most common value for categorical variables, and so on (shown in Figure 2-1).
The object is just to demonstrate that potential exists to develop a useful model to predict property ownership changes using the available data. info 21 22 Part I: Getting Started with Data Mining Business goals are determined by the client (external or internal), not the data miner. If you and your team have doubts about a particular goal, don’t change it on your own. Clients won’t accept that! Instead, enter into a discussion with the client, explain your concerns, and come to an agreement about reasonable business goals for the project.
The property is in foreclosure. Although you have good reasons to believe that each of these factors is important, no one has yet confirmed their value by building and testing a predictive model. You’d like to investigate each of them — and others as well. But you don’t have adequate data for some, and the others will all require effort for data preparation. Your goal for this project is not to develop the greatest possible model, but to use the data to demonstrate that at least one variable has value for predicting changes in property ownership.