Flashcards
Data Mining Applications
Cards in this deck (8)
- 1What are the 7 data mining applications?Consumer clustering, customer churn, fraud detection, direct marketing, interactive marketing, market basket analysis, trend analysis
- 2What is consumer clustering?Identify the common characteristics of customers who tend to buy the same products/ services
- 3What is customer churning?Identify the reason customers switch to competitors; predict which customers are likely to do it
- 4Fraud detectionIdentify characteristics of transactions that are most likely to be fraudulent
- 5What is direct marketing?Identify which prospective clients should be included in mailing lists to obtain the highest response rate
- 6What is interactive marketing?Predict what each individual accessing a website is most likely to be interested in seeing
- 7What is market basket analysis?Understand what products or services are commonly purchased together, and on what days of the week
- 8What is trend analysis?Reveal the difference between a typical customer this month and a typical customer last month
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- INFS1000 Flashcards on Data Mining Applications, created by Andrew Aiello on 24/11/2019.
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- Andrew Aiello
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