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Physical Sciences and Mathematics Commons™
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Full-Text Articles in Physical Sciences and Mathematics
Retailing Nears Holy Grail In 'Big Data', Jennifer Priestley
Retailing Nears Holy Grail In 'Big Data', Jennifer Priestley
Jennifer L. Priestley
(First paragraph) Yesterday I was online looking for a red, cotton wrap skirt, size 6 (OK, maybe size 8). After viewing several different retail sites, clicking through countless options, I found the perfect skirt. But I had to “abandon” my cart to take care of a minor household crisis. When I went back online, it seemed as if every ad included size 6 women, wearing red wrap skirts. Even more interesting, most came with an incentive for free shipping or 10 percent off.
Model Development Techniques And Evaluation Methods For Prediction And Classification Of Consumer Risk In The Credit Industry, Jennifer Priestley, Satish Nargundkar
Model Development Techniques And Evaluation Methods For Prediction And Classification Of Consumer Risk In The Credit Industry, Jennifer Priestley, Satish Nargundkar
Jennifer L. Priestley
In this chapter, we examine and compare the most prevalent modeling techniques in the credit industry, Linear Discriminant Analysis, Logistic Analysis and the emerging technique of Neural Network modeling. K-S Tests and Classification Rates are typically used in the industry to measure the success in predictive classification. We examine those two methods and a third, ROC Curves, to determine if the method of evaluation has an influence on the perceived performance of the modeling technique. We found that each modeling technique has its own strengths, and a determination of the “best” depends upon the evaluation method utilized and the costs …