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Chapter 1
Datamining
8
Business
Graduate
02/17/2014

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Cards

Term
What are the three pillars of a data scientist/mining
Definition
Business/domain understanding
statistics understanding
coding
Term
what are the steps to creating business value
Definition
identifying high priority business opportunities and problems

mining data to transform the data into actionable information

acting on the information

measuring the results
Term
If the ___ group has a higher response rate than the control group, it indicates the model is ___
Definition
target
working
Term
if the ___ group has a higher response rate than the holdout group, it indicates the ___ is working
Definition
control
market treatment
Term
what are the 6 parts of the business side of a data miner
Definition
1. prioritize business problems that need to be acted upon
2. figuring out what data needs collecting
3. figuring out for how long certain data needs to be collected
4. deciding what reports would empower managers to make better decisions.
5. making it easier for managers to understand reports and take actions
6. measuring the results of actions
Term
What does CRISP-DM provide
Definition
1. step by step blueprint for conducting a data mining project

2. specified set of deliverables for each phase of a project

3. set of documentation standards in terms of what info should be included
Term
What are the phases of CRISP-DM
Definition
1. business understanding

2. data understanding

3. data preparation

4. modeling

5. evaluation

6. deployment.
Term
what are some good followup questions to a campaign
Definition
did it reach and bring in profitable customers

did a higher model score indicate a higher response rate?

were these customers retained as well as was expected?
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