Data Mining Cookbook by Olivia Parr Rud

By Olivia Parr Rud

Now to be had, this insightful booklet exhibits you the way to create and enforce types of the main frequently asked information mining questions for advertising and marketing, revenues, chance research, and patron courting administration and support.In addition to genuine global adventure and realizing, you will get time-tested confirmed modeling suggestions that tackle particular inquiries to assist you locate creative new how you can elevate revenue and reduce costs.Starting from the fundamentals, you are going to how you can plan the menu and select the ideal components - or ask the appropriate questions and get info able to mine - earlier than you get all the way down to the company of making the meal.You'll locate a variety of case reports that element to be had facts assets for constructing focusing on versions, then learn how to procedure, assessment, and enforce them via an in depth case research of a life-time worth version for a lifestyles assurance direct-mail crusade.

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This is a major problem in the telecommunications industry. Net Present Value A net present value (NPV) model attempts to predict the overall profitability of a product for a predetermined length of time. The value is often calculated over a certain number of years and discounted to today's dollars. Although there are some standard methods for calculating net present value, many variations exist across products and industries. In part 2, "The Cooking Demonstration," we will build a net present value model for direct mail life insurance.

This next section defines some of the common analytic goals used today in marketing, risk, and customer relationship management. Profile Analysis An in-depth knowledge of your customers and prospects is essential to stay competitive in today's marketplace. Some of the benefits include improved targeting and product development. Profile analysis is an excellent way to get to know your customers or prospects. It involves measuring common characteristics within a population of interest. ), and average length of residence are typically included in a profile analysis.

Second, the decision makers often don't understand the sophisticated technologies required to drive the business. This can make them resistant to using them. And third, the company personnel and compensation structures aren't designed to support the new approach. The companies that are leading the pack are those that have managers and senior executives who support an analytic approach to marketing, risk, and customer relationship management. So many facets of the organizational structure need to be aligned to make it work.

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