It is a capital mistake to theorize before one has data. Insensibly one begins to twist facts to suit theories, instead of theories to suit facts.
When you have completed this chapter you will be able to:
• Understand analytic applications
• Architect at a high level, an analytic application such as risk analysis, actuarial analysis, and investment analysis.
In Chapter 14 you learned about data mining. This powerful approach is used to describe existing data, as well as make predictions using large volumes of data as input. Data mining ...