Titlebook: Descriptive Data Mining; David L. Olson,Georg Lauhoff Book 2019Latest edition Springer Nature Singapore Pte Ltd. 2019 Descriptive Data Min

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Descriptive Data Mining978-981-13-7181-3Series ISSN 2191-1436 Series E-ISSN 2191-1444

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Single Machine Models (Deterministic)s and practices for exploration and investigation of past business performance to gain insight and aid business planning. The focus is on developing new insights and understanding based on data and statistical analysis. The emphasis is on fact-based management to drive decision making.

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https://doi.org/10.1007/978-981-13-7181-3Descriptive Data Mining; Cluster Analysis; Association rules; Data visualization; Market basket analysis

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Parallel Machine Models (Stochastic)Recency, Frequency, and Monetary (RFM) analysis seeks to identify customers who are more likely to respond to new offers. While lift looks at the static measure of response to a particular campaign, RFM keeps track of customer transactions by time, by frequency, and by amount.

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