What is Predictive Data Mining?
Predictive Data Mining combines data warehouse with advanced multivariate statistical analysis and artificial intelligence. The artificial intelligence is gained through the use of a neural network, a powerful data modeling tool that is able to capture and analyze complex input/output relationships for the prediction of future customer behavior, classifying customer segments and forecasting events. Today, predictive data mining has become an essential tool for strategic decision making at many mid-size companies and large corporations. Like a human brain, a neural network acquires knowledge through a training process and its knowledge is stored within inter-neuron connection strengths known as synaptic weights. When trained and deployed correctly, perceptron (MLP) neural networks, sometimes used by THE MARKETING ANALYSTS provide superior results when analyzing linear and non-linear relationships. How are Marketing Neural Networks Being Used? Right now, there are vast databases and powe
