Heuristics in Analytics: A Practical Perspective of What Influences Our Analytical World

Overview

Heuristics in Analytics
A Practical Perspective of What Influences Our AnalyticalWorld

In Heuristics in Analytics, renowned telecommunicationsexperts Carlos Andre Reis Pinheiro and Fiona McNeill describeanalytic processes and how they fit into the heuristic world aroundus. In spite of the strong heuristic characteristics of theanalytical processes, Heuristics in Analytics emphasizes theneed to have the proper ...

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Overview

Heuristics in Analytics
A Practical Perspective of What Influences Our AnalyticalWorld

In Heuristics in Analytics, renowned telecommunicationsexperts Carlos Andre Reis Pinheiro and Fiona McNeill describeanalytic processes and how they fit into the heuristic world aroundus. In spite of the strong heuristic characteristics of theanalytical processes, Heuristics in Analytics emphasizes theneed to have the proper tools to engage analytics and shows how toovercome heuristic characteristics through the use of mathematicsand statistics.

This straightforward book explores how important it is toproperly consider the randomness and the heuristic characteristicsin analytics and how crucial analytics are for companies andcorporate environments. Drawing from the authors’ years ofexpe­rience, Heuristics in Analytics looks at:

  • Unplanned events, heuristics, and the randomness in ourworld
  • The analytical approach
  • The competitive intelligence cycle
  • Knowledge applications that solve business problems
  • Customer behavioral segmentation
  • The graph analysis approach

Packed with case studies on the entire analytical process usingtelecom and insurance companies based in Brazil and Ireland,Heuristics in Analytics provides CFOs, chief marketingofficers, directors of marketing, and business managers with aninsider guide to deploying mathematical and statistical models whenperforming analytics.

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Product Details

  • ISBN-13: 9781118347607
  • Publisher: Wiley
  • Publication date: 3/17/2014
  • Series: Wiley and SAS Business Series
  • Edition number: 1
  • Pages: 256
  • Product dimensions: 6.00 (w) x 9.10 (h) x 1.00 (d)

Meet the Author

CARLOS ANDRE REIS PINHEIRO is Visiting Professor at KULeuven, Belgium. He headed the Analytical Lab at Oi in Brazil, oneof the largest telecommunications companies in Latin America.Pinheiro has conducted Postdoctoral Research at KatholiekeUniversiteit Leuven, Belgium, Université de Savoie, France andDublin City University, Ireland. He holds a PhD in Engineering fromFederal University of Rio de Janeiro, Brazil. He worked at BrazilTelecom for almost ten years and also accomplished postdoctoralresearch at IMPA, Brazil, one of the most prestigious mathematicalinstitutions in the world. He has published several papers ininternational journals and conferences and has four books (all inPortuguese) that focus on the internet, database, web warehousing,and analytical intelligence. He is the author of Social NetworkAnalysis in Telecommunications, published by Wiley.

FIONA McNEILL has applied analytics to business problemssince she began her career in 1992 and has consistently helpedcompanies benefit from strategic use of data and analytics.Throughout her career, she has been affiliated with data andtechnology companies, from information and survey providers, IBMGlobal Services and for over fifteen years, at SAS. McNeill haspublished in academic journals, conducted education seminars andpresented at both academic and industry conferences over the courseof her career. She holds an M.A. in Quantitative BehavioralGeography from McMaster University, and graduated cum laude with aB.Sc. in Bio-Physical Systems, University of Toronto.

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Table of Contents

Preface xi

Acknowledgments xix

About the Authors xxiii

Chapter 1: Introduction 1

The Monty Hall Problem 5

Evolving Analytics 8

Summary 18

Chapter 2: Unplanned Events, Heuristics, and the Randomness in Our World 23

Heuristics Concepts 26

The Butterfly Effect 30

Random Walks 37

Summary 44

Chapter 3: The Heuristic Approach and Why We Use It 45

Heuristics in Computing 47

Heuristic Problem-Solving Methods 51

Genetic Algorithms: A Formal Heuristic Approach 54

Summary 67

Chapter 4: The Analytical Approach 69

Introduction to Analytical Modeling 71

The Competitive-Intelligence Cycle 74

Summary 97

Chapter 5: Knowledge Applications That Solve Business Problems 101

Customer Behavior Segmentation 102

Collection Models 106

Insolvency Prevention 113

Fraud-Propensity Models 120

Summary 127

Chapter 6: The Graph Analysis Approach 129

Introduction to Graph Analysis 130

Summary 143

Chapter 7: Graph Analysis Case Studies 147

Case Study: Identifying Influencers in Telecommunications 149

Case Study: Claim Validity Detection in Motor Insurance 162

Case Study: Fraud Identification in Mobile Operations 178

Summary 188

Chapter 8: Text Analytics 191

Text Analytics in the Competitive-Intelligence Cycle 193

Linguistic Models 198

Text-Mining Models 200

Summary 207

Bibliography 209

Index 217

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