MGCR 331 Lecture Notes - Lecture 10: Html, Hypertext Transfer Protocol, Affinity Analysis
23 May 2016
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Definition: all of the costs associated with the design, development, testing, implementation, documentation, training and maintenance of a software system. Data mining = the process of automatically extracting valid, useful, previously unknown, and ultimately comprehensible information from large databases and using it to make crucial busisness. Example: a large retailer with 100,000 products and hundreds of branches. Sales are tracked by time of day and linked to spending by individual customers. Example of analysis: spot that some regions have not accepted new products as fast as others. Lack of briefings of the sales force in the slow areas. Some areas are always slower to accept new products. Identify which prospects should be included in a mailing list. Identify common characteristics of customers who buy the same products. Predict which customers are likely to leave your company for a competitor. Identify what products are likely to be bought together.
