Data Mining And Decision Support

Data mining deals with finding patterns in data that are by user-definition, interesting and valid. It is an interdisciplinary area involving databases, machine learning, pattern recognition, statistics, visualization and others. Decision support focuses on developing systems to help decision-makers solve problems. Decision support provides a selection of data analysis, simulation, visualization and modeling techniques, and software tools such as decision support systems, group decision support and mediation systems, expert systems, databases and data warehouses. Independently, data mining and decision support are well-developed research areas, but until now there has been no systematic attempt to integrate them. Data Mining and Decision Support: Integration and Collaboration, written by leading researchers in the field, presents a conceptual framework, plus the methods and tools for integrating the two disciplines and for applying this technology to business problems in a collaborative setting.

For senior managers, IT managers and data mining service providers, this text explains what data mining can do for an organization, providing guidelines on how to manage data mining projects.

Business intelligence is a broad category of applications and technologies for gathering, providing access to, and analyzing data for the purpose of helping enterprise users make better business decisions. The term implies having a comprehensive knowledge of all factors that affect a business, such as customers, competitors, business partners, economic environment, and internal operations, therefore enabling optimal decisions to be made. Business Intelligence provides readers with an introduction and practical guide to the mathematical models and analysis methodologies vital to business intelligence. This book: Combines detailed coverage with a practical guide to the mathematical models and analysis methodologies of business intelligence. Covers all the hot topics such as data warehousing, data mining and its applications, machine learning, classification, supply optimization models, decision support systems, and analytical methods for performance evaluation. Is made accessible to readers through the careful definition and introduction of each concept, followed by the extensive use of examples and numerous real-life case studies. Explains how to utilise mathematical models and analysis models to make effective and good quality business decisions. This book is aimed at postgraduate students following data analysis and data mining courses. Researchers looking for a systematic and broad coverage of topics in operations research and mathematical models for decision-making will find this an invaluable guide.

Data mining is the process of automatically searching large volumes of data for models and patterns using computational techniques from statistics, machine learning and information theory; it is the ideal tool for such an extraction of knowledge. Data mining is usually associated with a business or an organization's need to identify trends and profiles, allowing, for example, retailers to discover patterns on which to base marketing objectives. This book looks at both classical and recent techniques of data mining, such as clustering, discriminant analysis, logistic regression, generalized linear models, regularized regression, PLS regression, decision trees, neural networks, support vector machines, Vapnik theory, naive Bayesian classifier, ensemble learning and detection of association rules. They are discussed along with illustrative examples throughout the book to explain the theory of these methods, as well as their strengths and limitations. Key Features: Presents a comprehensive introduction to all techniques used in data mining and statistical learning, from classical to latest techniques. Starts from basic principles up to advanced concepts. Includes many step-by-step examples with the main software (R, SAS, IBM SPSS) as well as a thorough discussion and comparison of those software. Gives practical tips for data mining implementation to solve real world problems. Looks at a range of tools and applications, such as association rules, web mining and text mining, with a special focus on credit scoring. Supported by an accompanying website hosting datasets and user analysis. Statisticians and business intelligence analysts, students as well as computer science, biology, marketing and financial risk professionals in both commercial and government organizations across all business and industry sectors will benefit from this book.

Doctoral Thesis / Dissertation from the year 2020 in the subject Computer Science - Commercial Information Technology, Symbiosis International University, language: English, abstract: Data mining is coined one of the steps while discovering insights from large amounts of data which may be stored in databases, data warehouses, or in other information repositories. Data mining is now playing a significant role in seeking a decision support to draw higher profits by the modern business world. Various researchers studied the benefits of data mining processes and its adoption by business organizations, but very few of them have discussed the success factors of decision support projects. The Research Hypothesis states the involvement of the decision tree while adopting accuracy of classification and while emphasizing the impact factor or importance of the attributes rather than the information gain. The concept of involvement of impact factor rather than just accuracy can be utilized in developing the new algorithm whose performance improves over the existing algorithms. We proposed a new algorithm which improves accuracy and contributing effectively in decision tree learning. We presented an algorithm that resolves the above stated problem of confliction of class. We have introduced the impact factor and classified impact factor to resolve the conflict situation. We have used data mining technique in facilitating the decision support with improved performance over its existing companion. We have also addressed the unique problem which have not been addressed before. Definitely, the fusion of data mining and decision support can contribute to problem-solving by enabling the vast hidden knowledge from data and knowledge received from experts. We have discussed a lot of work done in the field of decision support and hierarchical multi-attribute decision models. Ample amount of algorithms are available which are used to classify the data in datasets. Most algorithms use the concept of information gain for classification purpose. Some Lacking areas also exist. There is a need for an ideal algorithm for large datasets. There is a need for handling the missing values. There is a need for removing attribute bias towards choosing a random class when a conflict occurs. There is a need for decision support model which takes the advantages of hierarchical multi-attribute classification algorithms.

This Book outline the experimental studies on various inter-disciplinary applications of data mining and machine learning methods in decision support. This book provides an insight on some real world examples with suitable models and the performance of those methods for real life adoption and optimization.

Use the latest data mining best practices to enable timely, actionable, evidence-based decision making throughout your organization! Real-World Data Mining demystifies current best practices, showing how to use data mining to uncover hidden patterns and correlations, and leverage these to improve all aspects of business performance. Drawing on extensive experience as a researcher, practitioner, and instructor, Dr. Dursun Delen delivers an optimal balance of concepts, techniques and applications. Without compromising either simplicity or clarity, he provides enough technical depth to help readers truly understand how data mining technologies work. Coverage includes: processes, methods, techniques, tools, and metrics; the role and management of data; text and web mining; sentiment analysis; and Big Data integration. Throughout, Delen's conceptual coverage is complemented with application case studies (examples of both successes and failures), as well as simple, hands-on tutorials. Real-World Data Mining will be valuable to professionals on analytics teams; professionals seeking certification in the field; and undergraduate or graduate students in any analytics program: concentrations, certificate-based, or degree-based.

Websites are a central part of today’s business world; however, with the vast amount of information that constantly changes and the frequency of required updates, this can come at a high cost to modern businesses. Web Data Mining and the Development of Knowledge-Based Decision Support Systems is a key reference source on decision support systems in view of end user accessibility and identifies methods for extraction and analysis of useful information from web documents. Featuring extensive coverage across a range of relevant perspectives and topics, such as semantic web, machine learning, and expert systems, this book is ideally designed for web developers, internet users, online application developers, researchers, and faculty.