- PREDICTIVE MODELS PART II: EVALUATING GOODNESS-OF-FIT
by Ed Colet
- Executive Editor-at-Large Inderpal Bhandari presents a guest editorial by
Virtual Gold's Acting Director of Research:
- Data mining and other analytical techniques are often carried out with the
intention of developing a predictive model. Last week in part I, I discussed
the process of building predictive models, and the concept of overiftting
and underfitting. Overfitting and underfitting are two ways that a
predictive model may not fit the data well. It is important that a
predictive model fit the data well as subsequent decision-making and actions
are based on the predictions of the model. This week, in Part II of the
column, I discuss quantitative measures used to assess the "goodness of fit"
of various classes of predictive models.
- DIMENSIONAL MODELING AND E-R MODELING IN THE DW
by Joseph M. Firestone, Ph.D.
- Dimensional Modeling (DM) is a favorite modeling technique in data
warehousing. In DM, a model of tables and relations is constituted with the
purpose of optimizing decision support query performance in relational
databases, relative to a measurement or set of measurements of the
outcome(s) of the business process being modeled. In contrast, conventional
E-R models are constituted to (a) remove redundancy in the data model, (b)
facilitate retrieval of individual records having certain critical
identifiers, and (c) therefore, optimize On-line Transaction Processing
(OLTP) performance.
- CrediView UNVEILS GUARANTEED E-COMMERCE FRAUD PREVENTION
- CrediView, a provider of real-time e-commerce fraud prevention solutions,
announced the introduction of its flagship product, eCredible, the most
comprehensive and accurate e-commerce transaction fraud prevention solution
available.
- KNOWLEDGE CENTER OF EXCELLENCE BASED ON KTI TECHNOLOGY
- The Rector of the Otto-von-Guericke University, Magdeburg, Prof. Dr. Klaus
Erich Pollmann, has signed an agreement with Knowledge Technologies
International (KTI) for the University's Competency to become the first
Center of Excellence for KTI's Knowledge-based Process Modeler (KPM).
- ORACLE/SUN TEAM TO PROVIDE HIGH AVAILABILITY SOLUTIONS
- Reinforcing the most widely adopted Internet infrastructure, Oracle Corp
and Sun Microsystems announced a new initiative to deliver high availability
solutions based on the latest software and hardware technologies available
from both companies.
- SAFFRON TECHNOLOGY DEBUTS SaffronOne
- Saffron Technology announced commercial availability of SaffronOne. A
Java-based core technology, SaffronOne leverages proprietary associative
memory and compression technologies to enable employees or customers to make
better decisions in real time.
- MathSoft INTRODUCES S-PLUS 6 FOR UNIX
- MathSoft Inc, Data Analysis Division, a leading provider of solutions for
statistical data mining and predictive modeling technology, today introduced
S- PLUS 6 for UNIX, a major enhancement to the company's statistical data
mining software.
- ORACLE NOW HAS FULL REAL-TIME BI!
- Oracle Corp, one of the largest providers of software for e-business,
announced the success of the Oracle WebHouse initiative, which is helping
customers analyze and leverage e-commerce data for targeted customer
campaigns in real time.
Network Plus Using ACE*COMM's N*VISION Solution
Network Plus turned to ACE*COMM Corporation, the innovator of Convergent
Mediation and provider of Next Generation Network (NGN) Operations Support
Systems (OSS), to deliver the real-time Convergent Mediation and data
warehousing solutions to meet its business, marketing and customer
information needs.
Grande Communications to Implement CaritaSoft's CVM Suite
Central Texas-based broadband company Grande Communications announced a
multi-year contract with CaritaSoft, a customer value management (CVM)
solution provider to subscriber-based companies. CaritaSoft will supply
Grande with its CVM Suite.
Oracle Announces Clickstream Intelligence
Adding to its capabilities to deliver a 360-degree, real-time view of e-
business, Oracle Corp announced Oracle Clickstream Intelligence, a new full-
featured click-stream analysis product that will help take the guess-work
out of e-business success.
Apps Hosting Opens Doors to Small/Midsize Business Market
Internet-savvy customer resource management (CRM) vendors are embracing
applications hosting as a means to capture the next hot market on their
agenda: small and midsize businesses (SMBs).
Fashionchain selects InterNetivity's databeacon 5.0
InterNetivity Inc, provider of Web-based data analysis and reporting
solutions for the masses, announced at ASP World that is has entered into a
significant OEM relationship with fashionchain, a global B2B commerce
destination for softgoods manufacturers, suppliers, importers and retailers.
IBM Brings Strategic BI Technology to the College Campus
IBM is now bringing the same strategic business intelligence technology
used successfully by banking and other industries to the college campus. e-
business technology in the form of data warehousing applications will help
improve business processes such as marketing, recruitment and retention.
Informatica Unveils "Business Insight Networks" Vision
Informatica Corporation outlined a market vision and product roadmap to
help companies capitalize on the promise of e-business by building "business
insight networks" to deliver unprecedented visibility and top- and
bottom-line growth prospects across their extended value chains.
Motorola Plans Worldwide Deployment of Informatica Apps
Informatica Corporation announced it signed one of the largest licensing
agreements in the company's history with Motorola for Informatica
Applications, an integrated family of analytic applications that helps
companies achieve insight across their entire value chain to maximize
business performance.
Informatica Announces Insight 2000 Award Winners
Informatica Corporation, a leading provider of eBusiness analytic
solutions, announced the winners of its annual Insight Award. Informatica's
Insight Award acknowledges companies' successful adoption of Informatica's
analytic products to drive significant business results.
Blue Martini DM Software Incorporates OpenViz Solutions
Blue Martini Software has selected OpenViz Web-based 3D graphics and
publishing technology from Advanced Visual Systems to help provide
sophisticated analytic capabilities for e-commerce data processed by Blue
Martini's Customer Interaction System.
Canadian Venture Exchange to use MindfulEye Service
MindfulEye Inc announced that its subsidiary, MindfulEye.com Systems Inc,
and the Canadian Venture Exchange (CDNX) have entered into an agreement
whereby Canadian Venture Exchange officials will test MindfulEye's unique
Internet market surveillance service.
NCR Prepares for Exploding DW Market with Partnerships
In a move that NCR Corporation predicts will position it to capture a
booming data warehousing and customer relationship management (CRM) market,
the company has recently formed a new global organization, focused on
developing strategic partnerships.
Nokia and SAS First to WAP-Enable Business Intelligence
SAS Institute, a market leader in e-intelligence and data warehousing,
announced a marketing and technology integration co-operation with Nokia to
WAP-Enable business intelligence applications.
NQL Announces Full Release of NQL Enterprise Edition
NQL Inc announced the full release of the NQL Enterprise Edition of its
Network Query Language software with features to support large-scale e-
commerce application development.
SAP Drives Open-Source Database Development
At Linux World, SAP AG announced it will make the SAP DB database
management system available as open-source software under GNU General Public
License. SAP will host a community forum to drive further development of SAP
DB with open- source contributors and provide users with free access to the
Web-enabled database software.
Unica Named One of Inc.'s Fastest-Growing Companies
Unica Corporation has been named one of the fastest growing companies in
the country by Inc. Magazine, which recently released its annual ranking of
the Inc. 500, the comprehensive guide to America's fastest growing
companies.
WhiteCross Signs Sprint for eCRM Services
Reasserting its leadership position as a pioneer in the delivery of large-
scale data analysis via the Application Service Provider (ASP) model,
WhiteCross Systems announced that it has signed Sprint as the fifth global
communications company to leverage its eCRM services.
"The growth in data warehousing can be attributed to the tidal
wave of data now flooding the Internet economy, as well as the
need by traditional companies to have an enterprise-wide view
of their company information and customers."
- Steve Millard, vice president of Strategic Partnerships, NCR's Teradata Division
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