Data Mining And Modelling

| Total Words: 366

The important processes that have to be clearly delineated for Data Mining, Analysis and Modelling are:

Data model: what data will be available and how will it flow?
Data gathering: how will data be gathered both in physical and technological terms?
Data gathered: what data will be gathered?
Data types: what types of data will be gathered?
Data formatting: how will data be held?
Data warehousing: where will data be held?
Data mining: how will we retrieve data from the warehouse?
Information modelling: how will we create models and what of?
Information access: how will we access the data models and reports?
Presentation & reporting: on what will we report?

Most companies want to know essential information about customers at every point of contact, for example:

Lifetime value
X sell and upgrade potential
Acquisition cost
Channel preferences
Loyalty/retention
Purchase behaviour patterns

Much of the data that they have will have different frequencies of change, refreshment or occurrence. It will be kept for different periods. In some cases, aggregated data may be...

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