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<HTML> <HEAD> <!--SCRIPT LANGUAGE="JavaScript" SRC="http://a1835.g.akamai.net/f/1835/276/3h/www.netlibrary.com/include/js/dictionary_library.js"></SCRIPT> <SCRIPT LANGUAGE="JavaScript"> if (!opener){document.onkeyup=parent.turnBookPage;} </SCRIPT!--> <META HTTP-EQUIV="Cache-Control" CONTENT="no-cache"> <META HTTP-EQUIV="Pragma" CONTENT="no-cache"> <META HTTP-EQUIV="Expires" CONTENT="-1"><META http-equiv="Content-Type" content="text/html; charset=windows-1252"><SCRIPT>var PrevPage="Page_7";var NextPage="Page_9";var CurPage="Page_8";var PageOrder="20";</SCRIPT> <TITLE>Document</TITLE> </HEAD> <BODY BGCOLOR="#FFFFFF"><CENTER><TABLE BORDER=0 WIDTH=100% CELLPADDING=0><TR><TD ALIGN=CENTER> <TABLE BORDER=0 CELLPADDING=2 CELLSPACING=0 WIDTH=100%> <TR> <TD ALIGN=LEFT><A HREF='Page_7.html'>Previous</A></TD> <TD ALIGN=RIGHT><A HREF='Page_9.html'>Next</A></TD> </TR> </TABLE></TD></TR><TR><TD ALIGN=LEFT><P><A NAME='JUMPDEST_Page_8'/><A NAME='{69}'/><TABLE BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH='100%'><TR><TD ALIGN=RIGHT><FONT FACE='Times New Roman, Times, Serif' SIZE=2 COLOR=#FF0000>Page 8</FONT></TD></TR></TABLE><A NAME='{6A}'/><TABLE BORDER=0 CELLSPACING=0 CELLPADDING=0><TR> <TD ROWSPAN=5></TD> <TD COLSPAN=3 HEIGHT=12></TD> <TD ROWSPAN=5></TD></TR><TR> <TD COLSPAN=3></TD></TR><TR><TD></TD> <TD><FONT FACE='Times New Roman, Times, Serif' SIZE=3>food in front of the right consumers. This physical retailer uses NeoVista data mining software to be able to anticipate their customers' demands very accurately, similar to the way electronic retailers like Amazon are beginning to want to know how to position the right products online and manage their inventory in the back-end more effectively.</FONT></TD><TD></TD></TR><TR> <TD COLSPAN=3></TD></TR><TR> <TD COLSPAN=3 HEIGHT=1></TD></TR></TABLE><A NAME='{6B}'/><TABLE BORDER=0 CELLSPACING=0 CELLPADDING=0><TR> <TD ROWSPAN=5></TD> <TD COLSPAN=3 HEIGHT=12></TD> <TD ROWSPAN=5></TD></TR><TR> <TD COLSPAN=3></TD></TR><TR><TD></TD> <TD><FONT FACE='Times New Roman, Times, Serif' SIZE=3>Depending on the type and detail of customer information a company has, such as ZIP code, date of birth, prefix, etc., additional information can be appended from data resellers and modeling vendors. For example, industry-specific scores can be purchased from such companies as Fair, Isaac, or Experian, which assign risk or value to individuals. Banks, insurance, and credit card companies commonly use these scores in determining what product offers to make to their clients or potential prospects. Coupled with enhanced customer information, these firms are using data mining technologies and techniques to drive their decisions and knowledge about their customers. Of course there are other data mining applications in use, such as quality control, monitoring production processes, and law enforcement, but the bulk of the applications (as with the mining of websites) are customer-centric, in which client behavior and knowledge of their preferences is the golden nugget being sought.</FONT></TD><TD></TD></TR><TR> <TD COLSPAN=3></TD></TR><TR> <TD COLSPAN=3 HEIGHT=1></TD></TR></TABLE><A NAME='{6C}'/><TABLE BORDER=0 CELLSPACING=0 CELLPADDING=0><TR> <TD ROWSPAN=5></TD> <TD COLSPAN=3 HEIGHT=17></TD> <TD ROWSPAN=5></TD></TR><TR> <TD COLSPAN=3></TD></TR><TR><TD></TD> <TD><FONT FACE='Times New Roman, Times, Serif' SIZE=3><B>Mining Online</B></FONT></TD><TD></TD></TR><TR> <TD COLSPAN=3></TD></TR><TR> <TD COLSPAN=3 HEIGHT=1></TD></TR></TABLE><A NAME='{6D}'/><TABLE BORDER=0 CELLSPACING=0 CELLPADDING=0><TR> <TD ROWSPAN=5></TD> <TD COLSPAN=3 HEIGHT=12></TD> <TD ROWSPAN=5></TD></TR><TR> <TD COLSPAN=3></TD></TR><TR><TD></TD> <TD><FONT FACE='Times New Roman, Times, Serif' SIZE=3>Websites today find themselves competing for customer loyalty and dollars in markets where it costs little for customers to switch to competitors. The electronic commerce landscape is evolving into a fast, competitive marketplace where millions of online transactions are being generated from log files and registration forms every hour of every day, and online shoppers browse by electronic retailing sites with their finger poised on their mouse, ready to buy or click on should they not find what they are looking for—that is, should the content, wording, incentive, promotion, product, or service of a website not meet their preferences. In other words, it is a market where browsers are attracted and retained based on how well the retailer remembers their needs and whims.</FONT></TD><TD></TD></TR><TR> <TD COLSPAN=3></TD></TR><TR> <TD COLSPAN=3 HEIGHT=1></TD></TR></TABLE><A NAME='{6E}'/><TABLE BORDER=0 CELLSPACING=0 CELLPADDING=0><TR> <TD ROWSPAN=5></TD> <TD COLSPAN=3 HEIGHT=12></TD> <TD ROWSPAN=5></TD></TR><TR> <TD COLSPAN=3></TD></TR><TR><TD></TD> <TD><FONT FACE='Times New Roman, Times, Serif' SIZE=3>In such a hyper-competitive marketplace, the strategic use of customer information is critical to survival. As such, AI in the form of data mining has become a mainstay to doing business in fast-moving crowded markets. In accelerated markets the margins and profits go to the quick and responsive players who are able to leverage predic-</FONT><FONT FACE='Times New Roman, Times, Serif' SIZE=3 COLOR=#FFFF00><!-- soft --></FONT></TD><TD></TD></TR><TR> <TD COLSPAN=3></TD></TR><TR> <TD COLSPAN=3 HEIGHT=1></TD></TR></TABLE><A NAME='{6F}'/></FORM></P></TD></TR></TABLE><P><FONT SIZE=0 COLOR=WHITE></CENTER><A NAME="bottom"> </A><!-- netLibrary.com Copyright Notice --> </BODY></HTML>
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