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Wharton

Department of Statistics

2

Overview

Critical stages of data mining process

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Choosing the right data, people, and problems

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Modeling

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Validation

Automated modeling

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Feature creation and selection

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Exploiting expert knowledge, “insights”

Applications

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Little detail – Biomedical: finding predictive risk factors

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More detail – Financial: predicting returns on the market

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Lots of detail – Credit: anticipating the onset of bankruptcy

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