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Commercial Data Mining by David Nettleton

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Chapter 2

Business Objectives

Abstract

This chapter discusses the definition of a data mining project, including its initial concept, motivation, objective, viability, estimated costs, and expected benefit (returns). Key considerations are defined, and a way of quantifying the cost and benefit is presented in terms of the factors that most influence the project. Two case studies illustrate how the cost/benefit evaluation can be applied to real-world projects.

Keywords

business objectives

cost

benefit

evaluation

influential factors

customer call center

mobile applications advertising

Introduction

This chapter discusses the definition of a data mining project, including its initial concept, motivation, objective, viability, estimated costs, and expected benefit ...

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