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Kindle Notes & Highlights
Pareto principle, which states that 80 percent of effects come from 20 percent of the causes.
Parkinson’s law states that work expands to fill up all the time available to do it.
Kryder’s law predicts that the density and capability of hard drive storage media will double every 18 months.
There is also data about data. It is called metadata.
70% of all data mining work is about classification solutions; and that 70% of all classification work uses decision trees.
data is the new oil, and then Artificial Intelligence systems such as ANN are considered the new electricity.
There are two main kinds of business decisions: strategic decisions and operational decisions.
Einstein famously said that given an hour to solve a problem, he would spend 55 minutes defining the problem and alternatives and 5 minutes solving it.
Maximize the return on marketing campaigns:
Improve customer retention (churn analysis):
Maximize customer value (cross-, up-selling):
Identify and delight highly-valued customers.
Manage brand image.
Weka,
