Practical Text Mining and Statistical Analysis for Non-structured Text Data Applications

Tutorial C

Insurance Industry

Text Analytics Adds “Lift” to Predictive Models with STATISTICA Text and Data Miner

Dev Kannabiran,     StatSoft Data Mining Consultant

Thomas Hill,     StatSoft Vice President for Development

Gary Miner,     StatSoft Senior Statistician and Data Mining Consultant

Contents

Introduction

Data Description

Part A: Comparing the Lift of Predictive Models with and without Text Mining

Boosted Trees (without Text Material)

Boosted Trees Adding the Text Mining Variables

How to Merge Graphs

Part B: Enterprise Deployment

Summary

Introduction

The insurance industry, like most others, is severely affected by fraud and is working hard to equip itself with all of the possible tools necessary to identify and control fraud. With ...