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This new edition - more than 50 percent new and revised - is a significant update from the previous one and reveals how to harness the newest data mining methods and techniques to solve common business problems. The duo of unparalleled authors share invaluable advice for improving response rates to direct marketing campaigns, identifying new customer segments, and estimating credit risk. In addition, they cover more advanced topics, such as preparing data for analysis and creating the necessary infrastructure for data mining at your company.

There is no question that data mining has continued to grow and create value in many businesses. The ability to identify hidden knowledge and patterns in the numbers and texts generated daily provides analysts with room to understand the behavior of users. Through the development of models to identify patterns and discover new intelligence, it is now possible to change the business paradigm. This beginner’s guide will help you understand the basic concepts and different techniques that you can apply in data mining.