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Initial post: Dec 1, 2012 6:22:34 AM PST
A M says:
This book is about using statistics for issuing predictions. One of the most efficient statistical methods for issuing predictions rests on applying data-mining algorithms. Surprisingly the book does mention these algorithms. For example, a marketing director likes to predict the likelihood that a potential customer will purchase a certain product. The standard method is to run data mining algorithms, such as artificial neural network, decision tree, association rules, etc. in order to reveal the patterns of the customers that already bought the product, and apply these patterns on the potential customer in order to calculate the purchase probability.
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