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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