Classification analysis | My Assignment Tutor


Classification analysis

MA609 Business Analytics and Data Intelligence Week 10: TUT 10

How businesses collect and produce data? They do it via:

Sales and returns transactions

Bar code scans

Credit card transactions

GPS and RFID tracking

Clicks on a webpage

Define data mining
Data mining is the process of finding and extracting useful information and insights from large datasets

Like geological mining

It is often hard, dirty work

It takes the right tools

Explain data mining process
Identify Opportunity

Don’t dig randomly

Begin with the end in mind

What is the business problem/opportunity?

Collect Data

Decided where to dig

Get the right data – internally or externally

Millions of records aren’t required – use samples

10p to 15p records is OK (where p = # of variables)

Understand, Explore & Prepare the Data

Know what the data represents

Make sure it is clean & complete

Eliminate unneeded/redundant variables

Transform variables as needed

You might spend most of your data mining time here!

Identify Task & Tools

Classification (supervised)

Prediction (supervised)

Segmentation/Clustering (unsupervised)

Partition Data

Training

Validation

Testing (optional)

Build & Evaluate Models

Try different models

Try different parameter settings

Avoid overfitting

Deploy Models

Integrate models in operational systems

Train users

Monitor results

Look for opportunities for continuous improvement

Define classification and give a few examples of its application.

Classification determines into which of m mutually exclusive group does an observation of unknown origin belong. Some areas of classification application are:

Character/target recognition
Oil/gold exploration
Loan approval
Diagnose diseases
Identify defects
Predict bond ratings
Fraud detection (credit card, tax, trading, etc)
Predict winners of sports events

What are steps to classify using Full Bayes Classifier? What could be the problem in this case?
To classify a new record

Find all matching records

Put new record in most frequently occurring matching group

Problem

Continuous variables are unlikely to match exactly

Even with nominal variables, there might not be a match

The remainder of today’s session is allocated to the group project. When finished tutorial please work on the project.

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