Example Of Data Summarization

Efficient use of the statistical tool-regression will helps in deriving crucial relationship between variables that could offer significant pointers towards successful business decisions. Number crunching has emerged as the single most effective solution to pull up a declining businesses while on the other hand, the author advices customers to be vigilant in their business transactions that offer additional features at the same price. He also explains, how customer feedback extracted from market data and random surveys drives towards profitable decisions in the future for different sections of the society.

Capital One uses IT through its information-based strategy (IBS) to “record, organize, and analyze data on the characteristics and behaviors of their customers,” as stated by CEO Richard Fairbank. Their philosophy was to exploit information by constructing scientific models that could be used to both assess the creditworthiness of potential cardholders through FICO scoring, and to customize product offerings for existing ones. This was done through data mining, sorting, customizing offers and marketing campaigns, and then analyzing this data to see what campaigns worked – for what reason and what

By socialization we learn society’s classification schemes, they teach us how to perceive reality in a socially appropriate way. The process of being socialized involves knowing which features are salient for differentiating items from one another and which ones are irrelevant. Zerubavel recognizes that the categories do not come prepackaged, but instead through the process of ignoring similarities and exaggerating differences we lump together things we consider similar. These categories are indefinite and evidence of them ranges both historically and across

A concept is defined as a set of critical properties shared among a number of stimuli. Stimulus equivalence is expressed as: If A=B, and B=C, then

We were assigned to construct a software that utilizes a classification algorithm that is able to accurately decide a correct classification for a certain sequence of inputs that were provided by the user. The input is to be classified based on a known training set of records of the same attributes as the sequence provided by the user.

School is willing to support Sarah. Other community organizations may exist (e.g. Youth Center, etc.)

Discrimination is the phenomena where there is a crossing of the response level to stimuli. Conditioned stimulus one is followed by an unconditioned stimulus. Conditioned stimulus two is followed by a random unconditioned stimulus. The effect of discrimination is that a conditioned response will respond to the first conditioned stimulus but not to the second conditioned stimulus (McSweeny & Bierly, 1984). The ability to distinguish between the two stimuli is discrimination. An example of discrimination is if a car is advertised with a bonus package followed by the same car advertised without the bonus package. The conditioned response is to the car with the bonus package.

Rather than being a list of criteria or physical attributes, it is the achievement of a series of

Forecasting is the methodology utilized in the translation of past experiences in an estimation of the future. The German market presents challenges for forecasting techniques especially for its retail segment. Commercially oriented organizations are used to help during forecasting as general works done by academic scientists are not easy to come across (Bonner, 2009).

The decision support and intelligent systems that can be used in the company include enterprise-wide systems, knowledge work systems, and intelligent techniques, Great World Enterprises will focus on intelligent techniques for the decision support. It is a database technology that will allow the firm to capture data and analyze the resulting patterns (Aronson, Liang, & Turban, 2005). Data mining will be at the center of the decision support and intelligence systems. It is important to note that data mining is the process used by organizations to sort large data sets so as to identify patterns and determine relationships. The process will begin with the construction of a data warehouse. It is a relational database system that will enable Great World Enterprises to store large quantities of structured and unstructured data. The data warehouse system will include a business intelligence section that will process the stored data to establish patterns and relationships. The analysis will be

P_Youth: Number of youth books purchased. P_Cook: Number of cookbooks purchased. P_DIY: Number of do-it-yourself books purchased. P_Art: Number of art books purchased. To assess the performance of the model, the data set includes a second sheet with 2300 customers--a holdout sample representative of the entire target market. The use of such a validation sample is an appropriate way to compare alternative models.

Data mining can aid direct marketers by providing them with useful and accurate trends about

Forecasters use these mental maps to organize their observations of directional information. Since innovations rarely apply to the entire marketplace, information must be tagged for the appropriate price point, category and classification. In this way, forecasters turn random bits of data into useful information for decision support, points and style directions.

Data classification is the process of organizing data into categories for the most effective and efficient use. A well-constructed data classification system is a staple of any data loss prevention policy because it

With the development of commercial transaction, there is a surge of demand of commercial evaluation and prediction. In this circumstance, many entrepreneurs tried to understand and predict patterns of customers purchase, and foresee to prepare proper distributing products and minimize the amount of stock. Dr. Nikola Tesla has noted that a number of the business competitors are providing a discount to customers, free freight delivery on their online businesses. He needed to forecast various sale results if a similar measure is adopted to his business. As a solution, Kinkajou Technologies suggested a Decision Support System(DSS) because a DSS creates usable statistics and diagrams from the DBMS and produce various scenarios which help the business owner make decisions relating to future business development and profitability.