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Predictive Models
Predictive modelling uses statistics to predict outcomes. Most often the event one wants to predict is in the future, but predictive modelling can be applied to any type of unknown event, regardless of when it occurred. For example, predictive models are often used to detect crimes and identify suspects, after the crime has taken place. In many cases the model is chosen on the basis of detection theory to try to guess the probability of an outcome given a set amount of input data, for example given an email determining how likely that it is spam. Models can use one or more classifiers in trying to determine the probability of a set of data belonging to another set. For example, a model might be used to determine whether an email is spam or "ham" (non-spam). Depending on definitional boundaries, predictive modelling is synonymous with, or largely overlapping with, the field of machine learning, as it is more commonly referred to in academic or research and development contexts. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Chapman & Hall
Chapman & Hall is an imprint owned by CRC Press, originally founded as a British publishing house in London in the first half of the 19th century by Edward Chapman and William Hall. Chapman & Hall were publishers for Charles Dickens (from 1840 until 1844 and again from 1858 until 1870), Thomas Carlyle, William Thackeray, Elizabeth Barrett Browning, Anthony Trollope, Eadweard Muybridge and Evelyn Waugh. History Upon Hall's death in 1847, Chapman's cousin Frederic Chapman began his progress through the ranks of the company and eventually becoming a partner in 1858 and sole proprietor on Edward Chapman's retirement from Chapman & Hall in 1866. In 1868 author Anthony Trollope bought a third of the company for his son, Henry Merivale Trollope. From 1902 to 1930 the company's managing director was Arthur Waugh. In the 1930s the company merged with Methuen, a merger which, in 1955, participated in forming the Associated Book Publishers. The latter was acquired by The Thomson Corp ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Churn Rate
Churn rate (sometimes called attrition rate), in its broadest sense, is a measure of the number of individuals or items moving out of a collective group over a specific period. It is one of two primary factors that determine the Steady state, steady-state level of customers a business will support. Derived from the butter churn, the term is used in many contexts but most widely applied in business with respect to a contractual customer base. Examples include a Subscription business model, subscriber-based service model as used by mobile telephone networks and pay TV operators. The term is often synonymous with Turnover (other), turnover, for example participant turnover in peer-to-peer networks. Churn rate is an input into customer lifetime value modeling, and can be part of a simulator used to measure return on marketing investment using marketing mix modeling. Customer base churn Churn rate, when applied to a customer base, refers to the proportion of contractual custom ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Uplift Modelling
Uplift modelling, also known as incremental modelling, true lift modelling, or net modelling is a predictive modelling technique that directly models the incremental impact of a treatment (such as a direct marketing action) on an individual's behaviour. Uplift modelling has applications in customer relationship management for up-sell, cross-sell and retention modelling. It has also been applied to political election and personalised medicine. Unlike the related Differential Prediction concept in psychology, Uplift Modelling assumes an active agent. Introduction Uplift modelling uses a randomised scientific control to not only measure the effectiveness of an action but also to build a predictive model that predicts the incremental response to the action. The response could be a binary variable (for example, a website visit) or a continuous variable (for example, customer revenue). Uplift modelling is a data mining technique that has been applied predominantly in the financial s ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Upselling
Upselling is a sales technique where a seller invites the customer to purchase more expensive items, upgrades, or other add-ons to generate more revenue. While it usually involves marketing more profitable services or products, it can be simply exposing the customer to other options that were perhaps not considered. (A different technique is cross-selling in which a seller tries to sell something else.) In practice, large businesses usually combine upselling and cross-selling to maximize revenue. Upselling vs cross-selling Upselling is the practice in which a business tries to motivate customers to purchase a higher-end product, an upgrade, or an additional item in order to make a more profitable sale. For instance, a salesperson may influence a customer into purchasing the newest version of an item, rather than the less-expensive current model, by pointing out its additional features. A similar marketing technique is cross-selling, where the salesperson suggests the purchase o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cross-sell
Cross-selling is a sales technique involving the selling of an additional product or service to an existing customer. In practice, businesses define cross-selling in many different ways. Elements that might influence the definition might include the size of the business, the industry sector it operates within and the financial motivations of those required to define the term. The objective of cross-selling can be either to increase the income derived from the client or to protect the relationship with the client or clients. The approach to the process of cross-selling can be varied to include two teams within the same organization or two organizations partnering to cross-sell or co-sell a client. Unlike the acquiring of new business, cross-selling involves an element of risk that could disrupt the relationship of existing clients. For that reason, it is important to ensure that the additional product or service being sold to the client or clients enhances the value the client ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Customer Relationship Management
Customer relationship management (CRM) is a process in which a business or other organization administers its interactions with customers, typically using data analysis to study large amounts of information. CRM systems compile data from a range of different communication channels, including a company's website, telephone, email, live chat, marketing materials and more recently, social media. They allow businesses to learn more about their target audiences and how to best cater for their needs, thus retaining customers and driving sales growth. CRM may be used with past, present or potential customers. The concepts, procedures, and rules that a corporation follows when communicating with its consumers are referred to as CRM. This complete connection covers direct contact with customers, such as sales and service-related operations, forecasting, and the analysis of consumer patterns and behaviors, from the perspective of the company. According to Gartner, the global CRM market ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States Department Of Defense
The United States Department of Defense (DoD, USDOD or DOD) is an executive branch department of the federal government charged with coordinating and supervising all agencies and functions of the government directly related to national security and the United States Armed Forces. The DoD is the largest employer in the world, with over 1.34 million active-duty service members (soldiers, marines, sailors, airmen, and guardians) as of June 2022. The DoD also maintains over 778,000 National Guard and reservists, and over 747,000 civilians bringing the total to over 2.87 million employees. Headquartered at the Pentagon in Arlington, Virginia, just outside Washington, D.C., the DoD's stated mission is to provide "the military forces needed to deter war and ensure our nation's security". The Department of Defense is headed by the secretary of defense, a cabinet-level head who reports directly to the president of the United States. Beneath the Department of Defense are th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bureau Of Land Management
The Bureau of Land Management (BLM) is an agency within the United States Department of the Interior responsible for administering federal lands. Headquartered in Washington DC, and with oversight over , it governs one eighth of the country's landmass. President Harry S. Truman created the BLM in 1946 by combining two existing agencies: the General Land Office and the Grazing Service. The agency manages the federal government's nearly of subsurface mineral estate located beneath federal, state and private lands severed from their surface rights by the Homestead Act of 1862. Most BLM public lands are located in these 12 western states: Alaska, Arizona, California, Colorado, Idaho, Montana, Nevada, New Mexico, Oregon, Utah, Washington and Wyoming. The mission of the BLM is "to sustain the health, diversity, and productivity of the public lands for the use and enjoyment of present and future generations." Originally BLM holdings were described as "land nobody wanted" because home ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Covariance
In probability theory and statistics, covariance is a measure of the joint variability of two random variables. If the greater values of one variable mainly correspond with the greater values of the other variable, and the same holds for the lesser values (that is, the variables tend to show similar behavior), the covariance is positive. In the opposite case, when the greater values of one variable mainly correspond to the lesser values of the other, (that is, the variables tend to show opposite behavior), the covariance is negative. The sign of the covariance therefore shows the tendency in the linear relationship between the variables. The magnitude of the covariance is not easy to interpret because it is not normalized and hence depends on the magnitudes of the variables. The normalized version of the covariance, the correlation coefficient, however, shows by its magnitude the strength of the linear relation. A distinction must be made between (1) the covariance of two random ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bureau Of American Ethnology
The Bureau of American Ethnology (or BAE, originally, Bureau of Ethnology) was established in 1879 by an act of Congress for the purpose of transferring archives, records and materials relating to the Indians of North America from the Interior Department to the Smithsonian Institution. But from the start, the bureau's visionary founding director, John Wesley Powell, promoted a broader mission: "to organize anthropologic research in America." Under Powell, the bureau organized research-intensive multi-year projects; sponsored ethnographic, archaeological and linguistic field research; initiated publications series (most notably its Annual Reports and Bulletins); and promoted the fledgling discipline of anthropology. It prepared exhibits for expositions and collected anthropological artifacts for the Smithsonian United States National Museum. In addition, the BAE was the official repository of documents concerning American Indians collected by the various US geological surveys, esp ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Virú Valley
The Viru Valley is located in La Libertad Region on the north west coast of Peru. The Viru Valley Project In 1946 the first attempt to study settlement patterns in the Americas took place in the Viru Valley, led by Gordon Willey. Rather than examine individual settlement sites, Willey wanted to look at the valley as a whole and the way that each village interacted with the others. The study showed that villages were located in places which reflected their relationship with the wider landscape and their neighbours. The project emphasised the importance for archaeologists of viewing sites holistically and to take into account the economic, environmental, social and political factors acting on past societies. Willey's groundbreaking study stimulated the work of a number of subsequent archaeologists in the valley. From 1992 to 1998 Dr. Thomas A. Zoubek embarked on a study of the earliest mid and upper valley sites in Viru concentrating specifically at the sites of Huaca El Gallo/La Gal ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
