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Forexample,analysismayshowthat75percentofpurchasersforacertainretailproductaremale.Therefore,theretailer...
Forexample,analysismayshowthat75percentofpurchasersforacertainretailproductaremale.Therefore,theretailer decidestotargetmenasthelikeliestpotentialbuyersinthefuture.However,ifthestore"soverallcustomerdistributionis 75percentmaleand25percentfemale,there"snotmuchnewinformationinthefactthat75percentofthisparticular product"sbuyersaremale.Dataminingmightrevealthateducationandagearebetterpredictorsofbuyingbehaviorthan gender.Perhapsthisproductwillbeespeciallypopularwithaparticulardemographicsegmentofwomen,implyingavery differentpromotionalstrategythaninitiallyplanned. Dataminingmethodology,ontheotherhand,triestoverifythatthepatternsyoufindcanbeusedforprediction(i.e.,that theyareapplicablebeyondtheoriginaldatabase).Itdoesthisusingavarietyoftechniques,suchasdividingthedatabase anddevelopingapredictivemodelononeportionthatisthentestedontheotherportion.Dataminingcanassessboth themathematicalaccuracyandthepotentialcostsandrevenuesofaparticularpredictivepattern.(Ifitcosts$100eachto reachtheidealb
