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Computational Risk Management

Predictive Data Mining Models

Authors: Olson, David L., Wu, Desheng

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  • Provides a comprehensive overview of knowledge management, big data, and basic descriptive data mining methods and software
  • Illustrates concepts with typical data
  • Demonstrates readily available open source software
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eBook $59.99
price for USA in USD (gross)
  • ISBN 978-981-13-9664-9
  • Digitally watermarked, DRM-free
  • Included format: PDF, EPUB
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Hardcover $109.99
price for USA in USD
  • ISBN 978-981-13-9663-2
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
About this book

This book provides an overview of predictive methods demonstrated by open source software modeling with Rattle (R’) and WEKA. Knowledge management involves application of human knowledge (epistemology) with the technological advances of our current society (computer systems) and big data, both in terms of collecting data and in analyzing it. We see three types of analytic tools. Descriptive analytics focus on reports of what has happened. Predictive analytics extend statistical and/or artificial intelligence to provide forecasting capability. It also includes classification modeling. Prescriptive analytics applies quantitative models to optimize systems, or at least to identify improved systems.  Data mining includes descriptive and predictive modeling.  Operations research includes all three. This book focuses on prescriptive analytics.
The book seeks to provide simple explanations and demonstration of some descriptive tools. This second edition provides more examples of big data impact, updates the content on visualization, clarifies some points, and expands coverage of association rules and cluster analysis. Chapter 1 gives an overview in the context of knowledge management. Chapter 2 discusses some basic data types. Chapter 3 covers fundamentals time series modeling tools, and Chapter 4 provides demonstration of multiple regression modeling. Chapter 5 demonstrates regression tree modeling.  Chapter 6 presents autoregressive/integrated/moving average models, as well as GARCH models. Chapter 7 covers the set of data mining tools used in classification, to include special variants support vector machines, random forests, and boosting.  
Models are demonstrated using business related data. The style of the book is intended to be descriptive, seeking to explain how methods work, with some citations, but without deep scholarly reference. The data sets and software are all selected for widespread availability and access by any reader with computer links.

About the authors

David L. Olson is the James & H.K. Stuart Chancellor’s Distinguished Chair and Full Professor at the University of Nebraska.  He has published research in over 150 refereed journal articles, primarily on the topic of multiple-objective decision-making, information technology, supply chain risk management, and data mining.  He teaches in the management information systems, management science, and operations management areas.  He has authored over 20 books and is a member of the Decision Sciences Institute, the Institute for Operations Research and Management Sciences, and the Multiple Criteria Decision Making Society.  He was a Lowry Mays endowed Professor at Texas A&M University from 1999 to 2001.  He was named the Raymond E. Miles Distinguished Scholar for 2002, and was a James C. and Rhonda Seacrest Fellow from 2005 to 2006.  He was named Best Enterprise Information Systems Educator by the IFIP in 2006 and is a Fellow of the Decision Sciences Institute.
Desheng Dash Wu is a distinguished professor at the University of Chinese Academy of Sciences. His research interests include enterprise risk management, performance evaluation, and decision support systems. His has published more than 80 journal papers in such journals as Production and Operations Management, IEEE Transactions on Systems, Man, and Cybernetics: Systems, Risk Analysis, Decision Sciences, Decision Support Systems, European Journal of Operational Research, IEEE Transactions on Knowledge and Data Engineering, et al. He has coauthored 3 books with David L Olson, and has served as editor/guest editor for several journals such as IEEE Transactions on Systems, Man, and Cybernetics: Part B, Omega, Computers and OR, International Journal of Production Research.

Table of contents (8 chapters)

Table of contents (8 chapters)

Buy this book

eBook $59.99
price for USA in USD (gross)
  • ISBN 978-981-13-9664-9
  • Digitally watermarked, DRM-free
  • Included format: PDF, EPUB
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Hardcover $109.99
price for USA in USD
  • ISBN 978-981-13-9663-2
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
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Bibliographic Information

Bibliographic Information
Book Title
Predictive Data Mining Models
Authors
Series Title
Computational Risk Management
Copyright
2020
Publisher
Springer Singapore
Copyright Holder
Springer Nature Singapore Pte Ltd.
eBook ISBN
978-981-13-9664-9
DOI
10.1007/978-981-13-9664-9
Hardcover ISBN
978-981-13-9663-2
Series ISSN
2191-1436
Edition Number
2
Number of Pages
XI, 125
Number of Illustrations
8 b/w illustrations, 69 illustrations in colour
Topics