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Cross-industry standard process for data mining. The Cross-industry standard process for data mining, known as CRISP-DM, [1] is an open standard process model that describes common approaches used by data mining experts. It is the most widely-used analytics model. [2]
v. t. e. Customer relationship management ( CRM) is a process in which a business or other organization administers its interactions with customers, typically using data analysis to study large amounts of information. [1] CRM systems compile data from a range of different communication channels, including a company's website, telephone (which ...
t. e. Data mining is the process of extracting and discovering patterns in large data sets involving methods at the intersection of machine learning, statistics, and database systems. [1] Data mining is an interdisciplinary subfield of computer science and statistics with an overall goal of extracting information (with intelligent methods) from ...
Examples of what businesses use data mining for is to include performing market analysis to identify new product bundles, finding the root cause of manufacturing problems, to prevent customer attrition and acquire new customers, cross-selling to existing customers, and profiling customers with more accuracy. [1]
Data analysis is the process of inspecting, cleansing, transforming, and modeling data with the goal of discovering useful information, informing conclusions, and supporting decision-making. [1] Data analysis has multiple facets and approaches, encompassing diverse techniques under a variety of names, and is used in different business, science ...
Customer analytics. Customer analytics is a process by which data from customer behavior is used to help make key business decisions via market segmentation and predictive analytics. This information is used by businesses for direct marketing, site selection, and customer relationship management. Marketing provides services to satisfy customers.
Semantic data mining is a subset of data mining that specifically seeks to incorporate domain knowledge, such as formal semantics, into the data mining process.Domain knowledge is the knowledge of the environment the data was processed in. Domain knowledge can have a positive influence on many aspects of data mining, such as filtering out redundant or inconsistent data during the preprocessing ...
Domain driven data mining is a data mining methodology for discovering actionable knowledge and deliver actionable insights from complex data and behaviors in a complex environment. It studies the corresponding foundations, frameworks, algorithms, models, architectures, and evaluation systems for actionable knowledge discovery. [1] [2]