Big Data Mining for Customer Analytics.

Companies are currently storing massive volumes of data, which remain largely untapped. Data mining aims at finding interesting patterns in these vast amounts of data. The discovered patterns allow companies to better understand and even predict the needs and wishes of their customers. Response modelling is a common marketing application where we want to predict which customers are likely interested in a new product offering, based on historical patterns. The ability to predict the future has huge advantages for businesses, both in terms of increased profits and decreased losses. Even within this field,an important challenge nowadays that we try to address in this project, is how to analyze the huge amounts of granular behavioural data that is available to improve the performance of the resulting data mining models. Current data mining techniques can hardly be applied on such "big data".

Keywords:QUANTITATIVE ECONOMIC METHODS, MARKETING RESEARCH, DATA MINING

Disciplines:Applied economics, Economic history, Macroeconomics and monetary economics, Microeconomics, Tourism

Project type:Collaboration project