List and explain areas/events what kind of data you need for online shopping sites like h&m and asos for decision making.

Explain the 7 types of decision making for your data such as:

1. Association Analysis: Identify how or what data would you need to provide SUPPORT

and CONFIDENCE for your rule. Explain, how you will calculate SUPPORT, CONFIDENCE

and LIFT. What DECISION would you take based on the values related to SUPPORT,

CONFIDENCE and LIFT

2. CLUSTER ANALYSIS: Identify if there is a possibility of creating a group/cluster in your

project  What criteria/data elements would you use to create clusters. How would you

create clusters (concepts only). How will clustering help you in your project? Explain in

terms of the concept of Heterogenous and Homogenous groups and effective use of the

clusters.

3. Decision Tree: Decision tree is used to show the effect of categorical input on

categorical output (mostly dichotomous/binary). What could be the categorical input

and output in your project? How would you measure the effectiveness of effect of the

input on output? Concept of Chi test and p-value  How would you measure the

reliability of this model in decision making? Does Decision Tree help you with decision

making?

4. Logistic Regression: Used when we need to show the effect of an input in

dichotomous/binary output  Identify the reason of using odds ratio. How would this be

different to what decision tree provides? Compare between logistic and decision tree,

which one would you prefer.

5. Neural Network: Used for any type of input or output. Specify the significance of its

ability to use multiple models in single model. How can Neural Network help with better

decision making for your online shopping site?

6. Text Mining: How do you collect unstructured data in your project? How would you

utilize text mining to better understand the data you may have for your project? How

important is it, in your project, to perform text mining and how would you explain its

importance? You need to explain with examples on why and how text analysis is helpful

in decision making.

7. Social Network Analysis: How would you use the concept of degree, betweenness and

closeness centrality to promote your online shopping? Does SNA have significance in

terms of decision making?

Pick what you think helps you most with decision making Of the 7 models/methods. Which

one(s) do you think will help you with decision making? List the models and if it hasn’t been

explained earlier, explain the reason for choosing them.