Data Mining Practical Machine Learning Tools and Techniques

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Modern Applied Statistics With S

Social Network Analysis

The science of the total environment

What makes organizations so similar? We contend that the engine of rationalization and bureaucratization has moved from the competitive marketplace to the state and the professions. Once a set of organizations emerges as a field, a paradox arises: rational actors make their organizations increasingly similar as they try to change them. We describe three isomorphic processes-coercive, mimetic, and normative—leading to this outcome. We then specify hypotheses about the impact of resource centralization and dependency, goal ambiguity and technical uncertainty, and professionalization and structuration on isomorphic change. Finally, we suggest implications for theories of organizations and social change.

The iron cage revisited: Institutional isomorphism and collective rationality in organizational fields (Chinese Translation)

We propose a data mining (DM) approach to predict the success of telemarketing calls for selling bank long-term deposits. A Portuguese retail bank was addressed, with data collected from 2008 to 2013, thus including the effects of the recent financial crisis. We analyzed a large set of 150 features related with bank client, product and social-economic attributes. A semi-automatic feature selection was explored in the modeling phase, performed with the data prior to July 2012 and that allowed to select a reduced set of 22 features. We also compared four DM models: logistic regression, decision trees (DTs), neural network (NN) and support vector machine. Using two metrics, area of the receiver operating characteristic curve (AUC) and area of the LIFT cumulative curve (ALIFT), the four models were tested on an evaluation set, using the most recent data (after July 2012) and a rolling window scheme. The NN presented the best results (AUC = 0.8 and ALIFT = 0.7), allowing to reach 79% of the subscribers by selecting the half better classified clients. Also, two knowledge extraction methods, a sensitivity analysis and a DT, were applied to the NN model and revealed several key attributes (e.g., Euribor rate, direction of the call and bank agent experience). Such knowledge extraction confirmed the obtained model as credible and valuable for telemarketing campaign managers.

/pdf/a-data-driven-approach-to-predict-the-success-of-bank-3cihscyqfh.pdf

A data-driven approach to predict the success of bank telemarketing

A recent review on the application of business intelligence to the banking domain.Coverage of the last twelve years of scientific literature on those subjects.Usage of text mining and the latent Dirichlet allocation to analyze articles.Provide new insights and future research trends which may benefit banking business. This paper analyzes recent literature in the search for trends in business intelligence applications for the banking industry. Searches were performed in relevant journals resulting in 219 articles published between 2002 and 2013. To analyze such a large number of manuscripts, text mining techniques were used in pursuit for relevant terms on both business intelligence and banking domains. Moreover, the latent Dirichlet allocation modeling was used in order to group articles in several relevant topics. The analysis was conducted using a dictionary of terms belonging to both banking and business intelligence domains. Such procedure allowed for the identification of relationships between terms and topics grouping articles, enabling to emerge hypotheses regarding research directions. To confirm such hypotheses, relevant articles were collected and scrutinized, allowing to validate the text mining procedure. The results show that credit in banking is clearly the main application trend, particularly predicting risk and thus supporting credit approval or denial. There is also a relevant interest in bankruptcy and fraud prediction. Customer retention seems to be associated, although weakly, with targeting, justifying bank offers to reduce churn. In addition, a large number of articles focused more on business intelligence techniques and its applications, using the banking industry just for evaluation, thus, not clearly acclaiming for benefits in the banking business. By identifying these current research topics, this study also highlights opportunities for future research.

https://repositorium.sdum.uminho.pt/bitstream/1822/38304/1/BI_in_banking-review.pdf

Business intelligence in banking

https://run.unl.pt/bitstream/10362/28033/1/PRita_Research_2018.pdf

Research trends on Big Data in Marketing: A text mining and topic modeling based literature analysis

The increasingly vast number of marketing campaigns over time has reduced its effect on the general public. Furthermore, economical pressures and competition has led marketing managers to invest on directed campaigns with a strict and rigorous selection of contacts. Such direct campaigns can be enhanced through the use of Business Intelligence (BI) and Data Mining (DM) techniques. This paper describes an implementation of a DM project based on the CRISP-DM methodology. Real-world data were collected from a Portuguese marketing campaign related with bank deposit subscription. The business goal is to find a model that can explain success of a contact, i.e. if the client subscribes the deposit. Such model can increase campaign efficiency by identifying the main characteristics that affect success, helping in a better management of the available resources (e.g. human effort, phone calls, time) and selection of a high quality and affordable set of potential buying customers.

https://repositorium.sdum.uminho.pt/bitstream/1822/14838/1/MoroCortezLaureano_DMApproach4DirectMKT.pdf

Sérgio Moro

Papers

A data-driven approach to predict the success of bank telemarketing

Business intelligence in banking

Research trends on Big Data in Marketing: A text mining and topic modeling based literature analysis

Using data mining for bank direct marketing: an application of the CRISP-DM methodology

Predicting social media performance metrics and evaluation of the impact on brand building: A data mining approach