CIS Exam 3 REVIEW - CIS 3380 Spring 2010 Exam 3 Study Guide...

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CIS 3380 Spring 2010 Exam 3 Study Guide The exam will cover the topics (chapters/sections and hw) listed below. The points listed below come from the text sections, the powerpoint presentations presented in class (the ppts largely but not completely match the text), and related issues and items discussed in class. NOTE: Some of the topics listed below are not discussed in your text or in online notes. They come from items discussed in class. Exam Coverage: Online Notes on Data Mining, Overview, Association Analysis, Classification Analysis, and Neural Networks. Chapter 8: Supply Chain Management Chapter 9: Customer Relationship Management Excel Solver and Hw3 Data Mining Overview What reasons are given for the demand for data mining techniques? - Undirected (unsupervised) Techniques: Association Rules, Clustering Analysis - Directed (Supervised) Techniques: Classification, Estimation, Prediction - Undirected Unsupervised techniques: Market Basket Analysis, Clustering Analysis(K mean Analysis) - Directed Supervised Techniques: Classification (classification tree, logistic regression, neural network), Estimation (Regression, neural network), Prediction (classification tree, regression, neural network) Is data mining a single process or a collection of technologies and techniques? - How does data mining assist target marketing? - Direct mail campaign – identify most promising respondents combining demographic data with data on past purchases behavior. Obtain better response rate, savings in campaign cost. What is direct mail and how do data mining activities assist its management? - Saved 33% of targeted customers, reduced direct mail budget by 60% and increased usage and revenue. - Direct Mail Campaign: identify most promising respondents combining demographic and geographic data with data on past purchase behavior. Obtain better response rate, savings in campaign cost.
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- Paper mail solicitations(junk mail) target marketing and handling direct mail campaigns. To identify specific people that are more likely to respond. What sort of questions induced Fleet Financial to invest $38Million in data warehousing hardware and software? - Logistic regression – response probability to home-equity product, profitable customers, unprofitable even if they respond. How does data mining assist in cross-selling and up-selling (what ARE cross-selling and up-selling? - Cross selling – identify what products customers usually purchase together by mining the transaction data. - Up selling – make recommendation of purchase to individual customers, new bundle of products, change the store layout. What products are customers likely to purchase together? In the context of the telecom industry, what is “churn analysis” and how was data mining applied to that issue? -
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CIS Exam 3 REVIEW - CIS 3380 Spring 2010 Exam 3 Study Guide...

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