Data Mining Camp – October 2011
Saturday, October 15, 2011 -…
Added by Vera Klimkovsky on August 30, 2011 at 10:58am —
I would bring to your attention my blog:
I hope to trigger discussion on these topics.
Added by Cristian Mesiano on August 30, 2011 at 9:51am —
In any business competitors are always looking to grab your customers, and many customers are on the lookout for a better deal. Customer attrition rates range from 7% to 40% annually in various industries. Slowing this customer "churn" rate by as little as 1% can add millions of dollars to any sizable company's bottom line. As it is already known customer acquisition is 4 to 5 times more expensive than to retain them, an effective customer retention strategy is crucial to a company's… Continue
Added by Sandeep Raut on August 28, 2011 at 10:34pm —
Big Data is, well, big.
In the information age, companies are literally drowning in vast oceans of data. Petabytes of data are being gathered everywhere in the digital age at a furious rate, and by a variety of devices.
Websites and devices that are collecting data…
Added by Vincent Granville on August 27, 2011 at 7:31pm —
More than 1,100 experts who analyze “Big Data” are gathered in San Diego today for the industry’s major conference on “Knowledge Discovery and Data Mining” (KDD). The registered attendance is a 22 percent increase over the 900 who attended last year’s KDD conference in Washington D.C.
“In this field, at least, we’re experiencing a recovery,” says Joe Milana, the global head of analytics at Opera Solutions, which was founded as a consulting firm in 2004 and has developed a specialized… Continue
Added by Vincent Granville on August 25, 2011 at 12:01am —
Hadoop has become the de facto standard in the research and industry uses of small and large-scale MapReduce. Since its inception, an entire ecosystem has been built around it including conferences (Hadoop World, Hadoop Summit), books, training, and commercial distributions (Cloudera, … Continue
Added by Vincent Granville on August 24, 2011 at 11:57pm —
Reports are useless partly because data modeling engineers and business analysts (producing database schema, UIs and Dashboards) can't communicate well with top management or internally, and end up producing tons of random alarm emails that nobody read anymore. In my opinion, the biggest problem is that corporations usually don't have a translator who can truly speak both tech and business. These translators are impossible to find, all of them are actually CEO competing with you, trying to… Continue
Added by Vincent Granville on August 24, 2011 at 10:45pm —
Added by Jean-Paul Rasson on August 23, 2011 at 11:32pm —
Posted as "Sorry, Wrong Number", on the Wall Street Journal.
By Carl Bialik
My print column examines high-profile instances, both recent and old, of numerical errors, afflicting data from spacecraft orbit calculations to economic statistics.
The stakes often are high. “Decision-making today is heavily reliant on data, which… Continue
Added by Vincent Granville on August 20, 2011 at 10:36pm —
I would like to let the group know that a new book "Management Engineering for Effective Healthcare Delivery: Principles and Applications" is now available. The link is attached:
The book illustrates the power of management engineering… Continue
Added by Alexander Kolker on August 20, 2011 at 9:17am —
Revolution Analytics and CrowdANALYTIX entered a strategic partnership today to enable affordable and high quality data analytics to organizations of all sizes and shapes. Among other things, Revolution Analytics will offer at no cost a trial version of its Revolution R Enterprise tool to all CrowdANALYTIX consultants and CrowdANALYTIX competition solvers for use in any CrowdANALYTIX… Continue
Added by Divyabh Mishra on August 19, 2011 at 7:11am —
New research by the McKinsey Global Institute (MGI) forecasts a 50 to 60 percent gap between the supply and demand of people with deep analytical talent. Do you believe in these numbers? We are running a test, posting made-up, anonymous stellar analytic resumes (from non-existent people) on job boards, to see whether it attracts recruiters and hiring manager.
So far the response rate by genuine hiring managers or recruiters has been abysmal. This seems to contradict … Continue
Added by Vincent Granville on August 18, 2011 at 3:44pm —
I'm kidding. But see below public records from the USPT (United States Patent and Trademark Office). Isn't it unbelievable? Maybe next time someone will manage to trademark "big" and/or "data", separately. Or trademark all the numbers, and maybe not just integers or zip-codes, but all the real or complex numbers.
Of course, by granting such ridiculous trademarks (and rejecting good ones - I'll publish on this subject later if there is interest), USPT as well as patent lawyers lose all… Continue
Added by Titus on August 15, 2011 at 4:01pm —
Much of the explosion of big data has been driven by increased efficiency in sever performance, memory cost, distributed architecture improvements (cloud, and truly parallel databases, e.g. noSQL) and essentially, by how much it costs to process a terabyte of data, both in terms of memory and bandwidth resources.
However, most of the very big data is very sparse, from an information point of view : big data is essentially made of noise or redundant information (think about videos or… Continue
Added by Jean-Paul Rasson on August 14, 2011 at 10:20pm —
Traditional analytics typically report on history – what happened. Though important, the next two questions are “why did this happen” and “what can we do to prevent this”.
Since people are directly tied to successful outcome, linking people characteristics to business outcome is a major step toward the holy grail of predicting and preventing.
Consultants, Business Intelligence and Talent Management Vendors now have a powerful ally to help clients answer “why”, thereby creating… Continue
Added by Mike Kennedy on August 11, 2011 at 7:02pm —
Analytics, Business analytics, Predictive modelling, Advanced analytics, Big Data Analytics, Data Mining, Knowledge Discovery, Artificial Intelligence, Machine learning, Business Intelligence, OLAP, Reporting, Data warehousing, Statistics
Analytics – Analytics can simply be defined as the process of breaking a problem into simpler parts and using inferences based on data to drive decisions. Analytics is not a tool or a technology; rather it is a… Continue
Added by Jigsaw Academy on August 6, 2011 at 4:32pm —
Should we interpret this as a signal that our future looks worse than back in 1930? After all, S&P has been rating countries since 1917, with US getting AAA 84 years in a row, until last Friday.
Or should we not trust these ratings? Could the lower rating of Aug 4 have been bought by China?
Added by Jean-Paul Rasson on August 6, 2011 at 1:44pm —
AnalytiX™ Mapping Manager is the first enterprise tool in the integration industry bringing standards, management and collaboration to one of the remaining area in the data integration space: pre-ETL source to target mapping. Another critical pain area been address by Mapping Manager is one of… Continue
Added by Rakesh Kumar on August 5, 2011 at 8:57am —
Judging by the recent posts on numerous web sites, many companies are looking for people with data mining and modeling (DM) skills. I recently interviewed some candidates for an open position. Since people in this field are a unique group, and interviewing them can be challenging, I thought you might like to hear about my approach. Continue
Philosophy for Hiring and Interviewing
When I interview a DM candidate, let’s call her…
Added by Vincent Granville on August 2, 2011 at 3:46pm —