Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Beyond Beer and Nappies

We all know the data mining story about putting the beer next to the nappies but do you know... Whether credit applicants using pen or pencil are more likely to default? Or What's the best way to catch Australian cheats (sorry only off the rugby field!)?

For answers to these, as well as the new crop of data mining legends-in-the-making, read on...

TERADATA TAKES DATA MINING BEYOND BEER & DIAPERS

Fraud detection, customer attrition, propensity to buy are among today's applications of data mining

DAYTON, Ohio - Ten years ago, Teradata, a division of NCR Corporation (NYSE: NCR), pioneered the field of data mining by looking at sales data from a retailer and discovering that in the evening hours, beer and diapers are often purchased together. This relationship, called a data mining affinity, captured the imagination of industry watchers, spawning a legend that has been recounted hundreds of times and is frequently cited as the textbook example of data mining.

Today, Teradata's data mining lab helps companies in many industries tap into their business data to take on more pressing issues like detecting fraud, understanding which customers are likely to defect, identifying customers who are likely to need additional products or services and discovering which customers are most profitable. In recognition of the tenth anniversary of the beer and diapers legend, Teradata's data mining experts have compiled their favourite Teradata data mining legends-in-the-making:

A REAL HORSE PILL A European healthcare provider used data mining to discover that one patient was filling prescriptions at such a rate that he would have died from the dosage. When they investigated, they found the patient was feeding the pills to his ailing horse.

PEN & INK A financial institution used data mining to discover that credit applicants who used pencil on the form were much more likely to default than those who filled out the application using ink.

DATA & TAXES The states of Texas and Iowa have collected $158 million and $33 million, respectively, using data mining to uncover individuals and corporations that are avoiding or underpaying state tax. The states combed through data from various government sources including customs, transportation, public safety, federal taxes and unemployment. Texas even looked at aircraft registrations to identify owners of small planes who owed tax on their aircraft Iowa looked at companies paying unemployment insurance and found one company with employees in the state that owed $5 million.

AUSTRALIAN CHEATS Australia's national social services agency CentreLink, uses data mining to identify welfare cheats and identity theft. They've prosecuted 144 identity frauds in the past year, saving A$3 million. The agency estimates it saves millions every year avoiding fraudulent welfare claims and overpayments.

MINING MINES The U.S. Labour Department's Mine Safety and Health Administration mines their mine data. After consolidating multiple, disparate systems, the department is able to look at all their data including inspection records, safety violations and miners' training and certifications. Now that requests for information are nearly instantaneous--rather than passing through several channels--the organisation has seen improvements in safety and productivity.

NOTES TO EDITORS ** National Fraud Awareness Week is August 4-10, 2002 ** A data mining webcast archive is available at www.teradata.com/beeranddiapers -- "Beyond Beer and Diapers: The Origins and Future of Data Mining"

About Teradata Division Teradata, a division of NCR Corporation, offers powerful analytical solutions that help businesses drive growth. Teradata solutions include the Teradata database, and analytical applications for customer relationship management, operations and financial management, business performance management and e-business. To learn more about Teradata Division and its solutions, go to www.teradata.com.

About NCR Corporation NCR Corporation (NYSE: NCR) is a leading global technology company helping businesses build stronger relationships with their customers. NCR's ATMs, retail systems, Teradata data warehouses and IT services provide Relationship Technology solutions that maximise the value of customer interactions. Based in Dayton, Ohio, NCR (www.ncr.com) employs approximately 30,400 people worldwide.

NCR and Teradata are trademarks or registered trademarks of NCR Corporation in the United States and other countries.

Michelle Cruickshank 141 dynamics +64 9 306 6472 (ddi) +64 21 500 472 (mob) michelle@141.co.nz


© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Watch This Space: Mahia Rocket Lab Launch Site Officially Opened

Economic Development Minster Steven Joyce today opened New Zealand’s first orbital launch site, Rocket Lab Launch Complex 1, on the Mahia Peninsula on the North Island’s east coast. More>>

Earlier:

Marketing Rocks!
Ig Nobel Award Winners Assess The Personality Of Rocks

A Massey University marketing lecturer has received the 2016 Ig Nobel Prize for economics for a research project that asked university students to describe the “brand personalities” of three rocks. More>>

ALSO:

Nurofen Promotion: Reckitt Benckiser To Plead Guilty To Misleading Ads

Reckitt Benckiser (New Zealand) intends to plead guilty to charges of misleading consumers over the way it promoted a range of Nurofen products, the Commerce Commission says. More>>

ALSO:

Half A Billion Accounts, Including Xtra: Yahoo Confirms Huge Data Breach

The account information may have included names, email addresses, telephone numbers, dates of birth, hashed passwords (the vast majority with bcrypt) and, in some cases, encrypted or unencrypted security questions and answers. More>>

ALSO:

Rural Branches: Westpac To Close 19 Branches, ANZ Looks At 7

Westpac confirms it will close nineteen branches across the country; ANZ closes its Ngaruawahia branch and is consulting on plans to close six more branches; The bank workers union says many of its members are nervous about their futures and asking ... More>>

Interest Rates: RBNZ's Wheeler Keeps OCR At 2%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2 percent and said more easing will be needed to get inflation back within the target band. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news