54667. Business Analytics and Decision Making Project 1: Data Mining Opportunity Name Due Date: Sunday, October 31 at 11:59 pm. Pick a firm/company of your own choice (e.g. "Verizon Wireless") and turn in a thoughtful write-up (approx. 1 page equivalent) about ONE SPECIFIC OPPORTUNITY for this company to benefit from data mining. I want you to think about and address in this write-up: Description of the specific opportunity for data mining - do NOT list many ways in which the firm can use data mining. Be specific and choose one example which you will clearly state and describe. Describe the data that is useful for this opportunity. Be very specific, list variable names and provide a simple snapshot (maybe in a fictitious table) of some example "rows" in this database. Describe how the firm can evaluate the data mining model built. Address this in two ways. First, what "test" data can be used to score the data mining model(s)? Second, is there a way for the firm to assign a monetary value based on the performance of the data mining method? Briefly describe how the final data mining model built can be integrated into the appropriate information system of the firm (try and identify which systems will use this model and how). Hint: The three examples discussed in chapter 1 (Example 1: Hurricane Frances; Example 2: Predicting Customer Churn; Example 3: Caesars Entertainment Corporation) 54667. Business Analytics and Decision Making Project 1: Data Mining Opportunity Name Due Date: Sunday, October 31 at 11:59 pm. Pick a firm/company of your own choice (e.g. "Verizon Wireless") and turn in a thoughtful write-up (approx. 1 page equivalent) about ONE SPECIFIC OPPORTUNITY for this company to benefit from data mining. I want you to think about and address in this write-up: Description of the specific opportunity for data mining - do NOT list many ways in which the firm can use data mining. Be specific and choose one example which you will clearly state and describe. Describe the data that is useful for this opportunity. Be very specific, list variable names and provide a simple snapshot (maybe in a fictitious table) of some example "rows" in this database. Describe how the firm can evaluate the data mining model built. Address this in two ways. First, what "test" data can be used to score the data mining model(s)? Second, is there a way for the firm to assign a monetary value based on the performance of the data mining method? Briefly describe how the final data mining model built can be integrated into the appropriate information system of the firm (try and identify which systems will use this model and how). Hint: The three examples discussed in chapter 1 (Example 1: Hurricane Frances; Example 2: Predicting Customer Churn; Example 3: Caesars Entertainment Corporation)
