Business Modeling and Data Mining

Author: Dorian Pyle
List Price: $59.95
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ISBN: 155860653X
Publisher: Morgan Kaufmann (April, 2003)
Sales Rank: 44,523
Average Customer Rating: 5 out of 5

Customer Reviews

Rating: 5 out of 5
Using data to solve busines problems
A must have for any data miner that takes his profession seriously. Already a classic. Business modeling and data mining are carefully separated, as they should be. This crucial distinction has greatly enlightened my view on business problems. First discover the framework for the business problem, determine the leverage point, and then build and refine the best possible model.

All steps are described in practical detail, making the book extremely actionable, and tool independent. First, how to determine the appropriate problem to analyze? Then, what are the right data, and how do I get them? Only then does the data mining begin, and a groundbreaking, comprehensive methodology is put forward to come up with the best possible model in every circumstance. The business modeling and data mining methodologies explicate at every possible step in the process - what to do, and how to proceed. In addition, a lot of supporting material provides insight on topics like working with conditional probabilities, regression to the mean, visualizing model performance and errors in problem space, etc.

Mr. Pyle's previous book set the mark with regards to data preparation. This book is much broader in its scope and should actually be read before the previous one. It's pretty hefty, but more than worth the read. In my opinion it should also be mandatory for 'data savvy' marketers as well, for instance as textbook in contemporary MBA courses.

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