Data Mining for Direct Marketing: Problems and Solutions
نویسندگان
چکیده
Direct marketing is a process of identifying likely buyers of certain products and promoting the products accordingly. It is increasingly used by banks, insurance companies, and the retail industry. Data mining can provide an effective tool for direct marketing. During data mining, several specific problems arise. For example, the class distribution is extremely imbalanced (the response rate is about 1~), the predictive accuracy is no longer suitable for evaluating learning methods, and the number of examples can be too large. In this paper, we discuss methods of coping with these problems based on our experience on direct-marketing projects using data mining.
منابع مشابه
Data Mining for Direct Marketing : Problems and SolutionsCharles
Direct marketing is a process of identifying likely buyers of certain products and promoting the products accordingly. It is increasingly used by banks, insurance companies, and the retail industry. Data mining can provide an eeective tool for direct marketing. During data mining, several speciic problems arise. For example , the class distribution is extremely imbalanced (the response rate is ...
متن کاملData Mining for Direct Marketing : Problems
Direct marketing is a process of identifying likely buyers of certain products and promoting the products accordingly. It is increasingly used by banks, insurance companies, and the retail industry. Data mining can provide an eeective tool for direct marketing. During data mining, several speciic problems arise. For example , the class distribution is extremely imbalanced (the response rate is ...
متن کاملNew Opportunities in Marketing Data Mining
INTRODUCTION Data mining has been widely applied in many areas over the past two decades. In marketing, many firms collect large amount of customer data to understand their needs and predict their future behavior. This chapter discusses some of the key data mining problems in marketing and provides solutions and research opportunities.
متن کاملData Mining for Decision Making in Direct Marketing: a Bayesian Networks Approach with Evolutionary Programming
Given the explosive growth of customer and transactional information, data mining can potentially discover new knowledge to improve managerial decision making in marketing. This study proposes an innovative approach to data mining using Bayesian Networks and evolutionary programming and applies the methods to direct marketing data. The results suggest that this approach to knowledge discovery c...
متن کاملA Simplified Data Mining Framework to Plan Effective Direct Marketing Campaigns
The advancement in technology, competitive market environment and changing behaviour of customers has generated an increased interest in direct marketing method for marketing. Data mining technology can predict and detect the changes in customer behaviour which facilities the effective planning of direct marketing campaigns. The objective of this paper is to generate a simplified data mining fr...
متن کامل