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• Data mining through a business window (Part II.)

  108-130

  Attila Harmati

  Views:

  154

  This article demonstrates the real world applications of the technology of data mining by way of a data mining project. This project was created by the author and the analyzed database was provided by a real company. The aim of the analysis was to create a classification model for this firm. To achieve this we applied logistic regression models, a decision tree and a neural network. The best model can help the company to consciously establish which customers will probably respond positively to a personal letter in a direct marketing campaign. In this way potentially favourable customers are reached more efficiently than in the case of randomized selection. This increases the efficiency of the company, and the generalization of results can confirm several advantages of data mining as used in business life.

  JEL classification: C25, C44, C45, C49, C88

• Adatbányászat üzleti szemmel (I. rész)

  Attila Harmati

  Views:

  109

  Organizations in the 21st century - whether they are profitoriented or not, in private ownership or state-owned - can increase their efficiency with an outstanding tool. This tool is data mining. This article first of all defines and presents data mining, and locates it in the process of 'Knowledge Discovery in Databases'. Following this we review the fields of employment of data mining and the basic methods employed. In particular we discuss the method of classification and the theoretical background of the main techniques, such as decision trees, neural networks and logistic regression models. The second part of this paper presents the real world application of this technology by way of an analysis of a real database.

  Journal of Economic Literature (JEL) classification: C25, C44, C45, C49