Business Modeling and Data Mining (The Morgan Kaufmann Series in Data Management Systems) (Paperback)

~ (Author) "Humans have a driving passion to control the world, and indeed, we do understand and control it in ways far beyond the abilities of any..." (more)
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Editorial Reviews

Book Description

This book provides practical guidance on how to identify and structure real-world business questions in terms that can be answered by quantitative models and data mining.

Product Description

Business Modeling and Data Mining demonstrates how real world business problems can be formulated so that data mining can answer them. The concepts and techniques presented in this book are the essential building blocks in understanding what models are and how they can be used practically to reveal hidden assumptions and needs, determine problems, discover data, determine costs, and explore the whole domain of the problem.

This book articulately explains how to understand both the strategic and tactical aspects of any business problem, identify where the key leverage points are and determine where quantitative techniques of analysis -- such as data mining -- can yield most benefit. It addresses techniques for discovering how to turn colloquial expression and vague descriptions of a business problem first into qualitative models and then into well-defined quantitative models (using data mining) that can then be used to find a solution. The book completes the process by illustrating how these findings from data mining can be turned into strategic or tactical implementations.

· Teaches how to discover, construct and refine models that are useful in business situations
· Teaches how to design, discover and develop the data necessary for mining
· Provides a practical approach to mining data for all business situations
· Provides a comprehensive, easy-to-use, fully interactive methodology for building models and mining data
· Provides pointers to supplemental online resources, including a downloadable version of the methodology and software tools.

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Product Details

• Paperback: 650 pages
• Publisher: Morgan Kaufmann; 1st edition (May 20, 2003)
• Language: English
• ISBN-10: 155860653X
• ISBN-13: 978-1558606531
• Product Dimensions: 9 x 7.3 x 1.5 inches
• Shipping Weight: 2.8 pounds (View shipping rates and policies)
• Average Customer Review: 4.2 out of 5 stars  See all reviews (4 customer reviews)
• Amazon.com Sales Rank: #890,777 in Books (See Bestsellers in Books)

Customer Reviews

Most Helpful Customer Reviews

28 of 28 people found the following review helpful:

5.0 out of 5 stars Using data to solve busines problems, May 7, 2003

By	A. F. Breur "Tom Breur, www.xlntconsulting.com" (Tilburg, the Netherlands) - See all my reviews (REAL NAME)

A must have for any data miner that takes his profession seriously. Already a classic. Business modeling and data mining are carefully separated, as they should be. This crucial distinction has greatly enlightened my view on business problems. First discover the framework for the business problem, determine the leverage point, and then build and refine the best possible model.

All steps are described in practical detail, making the book extremely actionable, and tool independent. First, how to determine the appropriate problem to analyze? Then, what are the right data, and how do I get them? Only then does the data mining begin, and a groundbreaking, comprehensive methodology is put forward to come up with the best possible model in every circumstance. The business modeling and data mining methodologies explicate at every possible step in the process - what to do, and how to proceed. In addition, a lot of supporting material provides insight on topics like working with conditional probabilities, regression to the mean, visualizing model performance and errors in problem space, etc.

Mr. Pyle's previous book set the mark with regards to data preparation. This book is much broader in its scope and should actually be read before the previous one. It's pretty hefty, but more than worth the read. In my opinion it should also be mandatory for `data savvy' marketers as well, for instance as textbook in contemporary MBA courses.

11 of 11 people found the following review helpful:

5.0 out of 5 stars Wonderful Book, May 8, 2004

By	M Ferreyra (Trenque Lauquen, Argentina) - See all my reviews

The translation of the business problem into a Data Mining problem is the key for successful data mining projects. Mr Pyle's book deals with this subject in a remarkable way. The book is organized in four parts. The first part provides an introductory material. It shows a broad view of the modelling and mining. This part allowed me to grasp the key concepts, connect them among themselves and have a "map of the territory" as Mr. Pyle says.

The second part shows many techniques for dealing with business situations and how to translate them into a data mining problem. Many of these topics were new for me and I was able to learn and apply a lot of these powerful methodology.

Part 3 is mainly about the data mining algorithms, different approach to solve data mining problems and how to improve the results. Although I knew about this subject, many topics are discussed in a very interesting point of view.

Finally, the part 4 provides a full interactive methodology which summarizes the previous parts. I have found this part very helpful in my work as business modeling consultant.

Summarizing, I think that this book is excellent and it would be read by anyone who wants to apply data analysis to the real world.

22 of 28 people found the following review helpful:

2.0 out of 5 stars Not a _practical_ introduction, September 27, 2004

By	Alphonse LaTuune "Al" (Joplin, MO) - See all my reviews

I selected Pyle's book, sight unseen, as an introduction for undergraduate students in an information science curriculum. A third the way through the course students are beginning to ask "where's the beef?", and understandably so. Even a business reader in search of an overview of the topic will likely find this discussion weighted with waffling wordiness.

The author devotes page after page to talking about models and mining in a style that is somehow both wordy and imprecise. A reader who is interested in the author's feelings about modeling and mining might find it illuminating; students who are interested in learning how it works and how to _do_ it find it unsatisfying.

I recommend the next edition edit the first 300 pages or so down to 30, and devote the word-count more to real life examples, specific mathematical explanations, and practical exercises.