List and explain areas/events what kind of data you need for online shopping sites like h&m
and asos for decision making.
Explain the 7 types of decision making for your data such as:
1. Association Analysis: Identify how or what data would you need to provide SUPPORT
and CONFIDENCE for your rule. Explain, how you will calculate SUPPORT, CONFIDENCE
and LIFT. What DECISION would you take based on the values related to SUPPORT,
CONFIDENCE and LIFT
2. CLUSTER ANALYSIS: Identify if there is a possibility of creating a group/cluster in your
project What criteria/data elements would you use to create clusters. How would you
create clusters (concepts only). How will clustering help you in your project? Explain in
terms of the concept of Heterogenous and Homogenous groups and effective use of the
clusters.
3. Decision Tree: Decision tree is used to show the effect of categorical input on
categorical output (mostly dichotomous/binary). What could be the categorical input
and output in your project? How would you measure the effectiveness of effect of the
input on output? Concept of Chi test and p-value How would you measure the
reliability of this model in decision making? Does Decision Tree help you with decision
making?
4. Logistic Regression: Used when we need to show the effect of an input in
dichotomous/binary output Identify the reason of using odds ratio. How would this be
different to what decision tree provides? Compare between logistic and decision tree,
which one would you prefer.
5. Neural Network: Used for any type of input or output. Specify the significance of its
ability to use multiple models in single model. How can Neural Network help with better
decision making for your online shopping site?
6. Text Mining: How do you collect unstructured data in your project? How would you
utilize text mining to better understand the data you may have for your project? How
important is it, in your project, to perform text mining and how would you explain its
importance? You need to explain with examples on why and how text analysis is helpful
in decision making.
7. Social Network Analysis: How would you use the concept of degree, betweenness and
closeness centrality to promote your online shopping? Does SNA have significance in
terms of decision making?
Pick what you think helps you most with decision making Of the 7 models/methods. Which
one(s) do you think will help you with decision making? List the models and if it hasn’t been
explained earlier, explain the reason for choosing them.
——-
List and explain what kind of data you need for online shopping sites like h&m and asos to make decisions.
Explain the seven types of data-driven decision making, such as:
1. Association Analysis: Determine how or what data you will require to offer SUPPORT.
as well as CONFIDENCE in your rule. Explain how you plan to determine SUPPORT and CONFIDENCE.
as well as LIFT What DECISION would you make based on the SUPPORT values?
LIFT and CONFIDENCE
2. CLUSTER ANALYSIS: Determine whether it is possible to form a group/cluster in your organization.
the project What criteria/data items would you employ to generate clusters? What would you do?
make clusters (concepts only). What role will clustering play in your project? Explain in detail
in terms of the Heterogeneous and
