Introduction Many business enterprises accumulate large quantities of data from their day-to-day operations. For example, huge amounts of customer purchase data are collected daily at the checkout counters of grocery stores. Table 1 illustrates an example of such data, commonly known as market basket transactions. Each row in this table corresponds to a transaction, which […]
Chapter 8: Strategies for Information Industries
Cooperation and Compatibility Strategies for Competing in n/w markets. Openness strategy Open migration Discontinuity Who are allies and enemies? ‘Coopetition’ Captures the tension between cooperation and competition Establish Standards & create a single n/w of compatible users. How Standards Change the Game? 1. Expanded network externalities Enhance compatibility, interoperability Make network larger, increase value Share […]
Chapter 8: Strategies for Information Industries
Cooperation and Compatibility
Chapter 7: Networks and Positive Feedback
Network and Positive Feedback Introduction The industrial economy was populated by oligopoly industries in which a few large firms dominate markets. Examples of oligopolies include: Automobiles industry Steel industry Aluminum industry Various chemical markets The difference is that the old industrial economy was driven by economics of scale while the new […]
Unit 3: Classification
3.1 Introduction Classification is the process where a model or classifier is constructed to predict categorical labels of unknown data. Classification problems aim to identify the characteristics that indicate the group to which each case belongs. This pattern can be used both to understand the existing data and to predict how new instances will behave. […]
Chapter 6: Market Strategies: Switching costs and Lock-in
Recognizing Lock-In When the costs of switching from one brand of technology to another are substantial, users face lock-in. Situation when user is compelled to stick to current brand or product Switching costs and lock-in are ubiquitous in information systems, and managing these costs is very tricky for both buyers and sellers. Examples of lock-in […]
Unit 2: Data Preprocessing
2.1 Data Types and Attributes A data is a known fact that can be recorded and have implicit (imbedded) meaning. For example, the names, eye color, telephone numbers, and addresses of the students of a class. So, data is a collection of data objects and their attributes. A collection of attributes describe an object. Attribute […]
Chapter 5: Rights Management
Rights Management Rights management is a term for control systems that allow a rights owner to control over information immediately. It enables publishers of information to control what recipients can do with it in order to prevent intellectual property theft, stop unauthorized sharing and piracy. Digital rights management (DRM) It is a systematic approach to copy right protection for digital media. The purpose […]
Unit 1: Introduction | Data Mining and Data Warehousing
Data Mining Databases today can range in size into the terabytes — more than 1,000,000,000,000 bytes of data. Within these masses of data lies hidden information of strategic importance. But when there is such enormous amount of data how could we draw any meaningful conclusion? We are data rich, but information poor. The abundance of […]