Many scientific problems entail labeling data items with one of a given, finite set of classes based on features of the data items. For example, oncologists classify tumors as different known cancer ...

Arthur Pinkasovitch, CFA, has worked 5+ years as a financial analyst. He is an associate director at ATB Financial. David Kindness is a Certified Public Accountant (CPA) and an expert in the fields of ...

The visual data mining process, seen in the first part of this two-part article, revealed patterns in four dimensions between cumulative gas well production and independent variables. "Jump ...

In business, many decisions must be taken seriously because they have wide-reaching implications for the company, its employees, its customers or the public. For these decisions, it’s essential for ...

A decision tree regression system incorporates a set of if-then rules to predict a single numeric value. Decision tree regression is rarely used by itself because it overfits the training data, and so ...

Business owners have to make decisions every day on issues fraught with uncertainty. Information is not perfect, and the best choice is not always clear. One way to handle these vague situations is to ...

One of the most important components of decision making is process organization. Using a decision tree to choose between different courses of action presents possible outcomes in graphic form, making ...