Includes bibliographical references (pages 237-241) and index.
pt. 1. Methodology. Organisation of the data -- Summary statistics -- Model specification -- Model evaluation -- pt. 2. Business Case Studies. Describing website visitors -- Market basket analysis -- Describing customer satisfaction -- Predicting credit risk of small businesses -- Predicting e-learning student performance -- Predicting customer lifetime value -- Operational risk management.
The increasing availability of data in our current, information-overloaded society has led to the need for valid tools for its modelling and analysis. Data mining and applied statistical methods are the appropriate tools to extract knowledge from such data. This book provides an accessible introduction to data mining methods in a consistent and application-oriented statistical framework, using case studies drawn from real industry projects and highlighting the use of data mining methods in a variety of business applications.