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Data Mining Mid Term

Terms in this set (110)

Data Mining Process Outline
Business Understanding, Data Understanding, Data Preparation, Modeling, Evaluation, Deployment
Which technique would you answer the the following question with: "Who are the most profitable customers?"
Database querying
Which technique would you answer the the following question with: "Is there really a difference between profitable customers and the
average customer? "
Statistical Hypothesis Testing
Which technique would you answer the the following question with: "But who really are these customers? Can I characterize them?"
OLAP (manual search), Data mining (automated pattern finding)
Which technique would you answer the the following question with: "Will some particular new customer be profitable? How much revenue should I expect this customer to generate?"
Data mining (predictive modeling)
What is a model?
A simplified representation of reality created to serve a purpose
What is a predictive model?
A formula for estimating the unknown value of interest: the target. The formula can be mathematical, logical statement (e.g. rule), etc.
What is prediction?
Estimate an unknown value (i.e. the target)
What is an instance or example?
Represents a fact or a data point. Described by a set of attributes (fields, columns, variables, or features)
What is model induction?
The creation of models from data.
What is Training Data?
The input data for the induction algorithm.
How do you calculate the dimensionality of a dataset?
You take the sum of the number of numeric features and the number of values of categorical features
What is an example of classification and class probability estimation?
How likely is this consumer to respond to our campaign?
What is an example of regression analysis?
How much will she use the service?
What is an example of similarity matching?
Can we find consumers similar to my best customers?
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