Editor’s note: This article compares measures for model performance. Note that “accuracy” is a specific such measure, but that this article uses the word “accuracy” to generically refer to measures in general. In data mining, data scientists use algorithms to identify previously unrecognized patterns and trends hidden within vast amounts of structured and unstructured information.
As the “Year of Statistics” comes to a close, I write this blog in support of the many statisticians who carefully fulfil their analysis tasks day by day, and to defend what may appear to be demanding behavior when...
For months, women’s fashion retailer Sway struggled to lure customers to its newly launched website by blasting them with sporadic emails. “It was pretty sad,” said Cheyanne Sequoyia-Mackay, Sway’s marketing manager. “Only about 20% of our customers...
Predictive Analytics Is Red Hot Why? What organization couldn’t benefit from making better decisions? Just ask the Obama campaign, which used sophisticated uplift modeling to target and influence swing voters. Or telecom firms that use predictive analytics...
Rexer Analytics has been conducting regular polls of data miners and analytics professionals on their software choices since 2007, and the results of the 2013 Rexer Analytics Data Miner Survey were presented at last month’s Predictive...
Heard of big data but not sure what it is? Here is a basic introduction to the concept and how it might help your small business. [Data mining and “big data” are buzzwords in business IT...
If we were able to predict the future, we would be able read the minds of our customers and know exactly what they wanted. The closest we can get to this supernatural ability is utilizing predictive analytics...
To overcome these challenges, network managers expect to transform almost half of their agency’s infrastructure by 2015. Federal agencies plan to fully deploy data center consolidation, mobility, security, big data and cloud computing (the Big Five) efforts...
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