Electronic payment method Essay

This essay has a total of 843 words and 7 pages.

electronic payment method

1. Introduction

ABC Company operates telecommunications business. Management prepares to launch a new
service to the market. The researchers use data mining techniques to obtain information of
market profile.


This paper describes how Market Basket Analysis (MBA), Memory Based Reasoning (MBR) and
Neural Networks (NN) analyze the data. The data analysis methods generate valuable
information for ABC Company constructing the marketing campaign.


Management evaluates the business problems, and converts into the data mining problems.
Then they select the right data set and inputs into the data mining models. They collect
information from data mining and use it to take actions. These actions bring values to the
company. Management measures the results as a feedback to the other research projects.


2. Business Problems

Telecommunications is a heavy competitive market. All telecommunications companies offer
similar products and services. ABC Company plans to launch a new service - wireless
broadband Internet access. The customers access Internet using GPRS (General Packet Radio
Services) through their mobile phones. Although ABC Company captures about 40% of total
market share, she understands that only delivery innovative service maintains sustainable
competitive advantages.


The competitors such as Sunday, SmartTone also plan to delivery some new services using
broadband wireless communication. ABC Company performs data analysis to capture
information of customers' attitudes and market situations. Obviously, a new product
delivery is a marketing problem. It is suitable to transform into data analysis problem.
Management uses techniques to capture the data. Management has a better understanding to
existing market.


3. Question 1 - Data Analysis by Market Basket Analysis

3.1. Research Objectives

By using MBA, ABC Company selects data from customer database. MBA is developed from the
retail business. Researchers collect data of customers to see the joint consumed products.
MBA uses information about what customer purchase. MBA gives insights into the merchandise
by telling the researcher which products tend to be purchased together and which are most
are enable to promotion. MBA provides the information that which product customers like to
buy.


ABC Company plans to launch a marketing campaign to promote the new services. It requires
gathering information of market profile, customer preferences and their buying habits. The
business problem will be converted into data analysis problem.


The objectives of the data analysis are,

• To find out the cluster of customer make heavy response of the new services.
• To find out which attributes affect the customers to buy the new services.
• To allocate the marketing resources to suit the target customers.

ABC Company has a large internal database to store the customer information. It records
the purchase history of the customers. The customer services department collects the
information about customer preference, the favorite attributes to the products.


Designers collect data and input to the data mining models. Actually, there are six
Continues for 4 more pages >>