10 of 11 people found the following review helpful
a good book, but has mistakes,
This review is from: Data Mining Cookbook: Modeling Data for Marketing, Risk and Customer Relationship Management (Paperback)
Generally speaking, it is a good book. Contains a lot of real world examples. and it gets into a lot of details on modeling which you don't normally see in a data mining book.
however, some parts of the book were pretty crude. It contains some mistakes. for example, in one chapter the author tries to compare a few repricing scenerios. she compared the account after rate increase with the account before rate increase. and before rate increase, the attrition rate is zero. and it is just not the right way to evaluate a strategy. normally, you would have to compare an account which got a rate raise with the same account as if it didn't receive the increase. and even without the rate increase, the attrition rate down the road can't be zero. normally, you have to use test and control group on this kind of situation. besides, the author made some calculation mistakes in the comparison table. the numbers simply don't add up.
Anyway, overall the book is still a nice one if you can absorb all the nice information in it.