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Andrea Ahlemeyer-Stubbe - Monetising Data

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Practical guide for deriving insight and commercial gain from data

Monetising Data offers a practical guide for anyone working with commercial data but lacking deep knowledge of statistics or data mining. The authors noted experts in the field show how to generate extra benefit from data already collected and how to use it to solve business problems. In accessible terms, the book details ways to extract data to enhance business practices and offers information on important topics such as data handling and management, statistical methods, graphics and business issues. The text presents a wide range of illustrative case studies and examples to demonstrate how to adapt the ideas towards monetisation, no matter the size or type of organisation.

The authors explain on a general level how data is cleaned and matched between data sets and how we learn from data analytics to address vital business issues. The book clearly shows...

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Table of Contents List of Tables Chapter 02 Chapter 04 Chapter 05 - photo 1
Table of Contents
List of Tables
  1. Chapter 02
  2. Chapter 04
  3. Chapter 05
  4. Chapter 06
  5. Chapter 08
  6. Chapter 09
  7. Chapter 10
List of Illustrations
  1. Chapter 01
  2. Chapter 02
  3. Chapter 03
  4. Chapter 04
  5. Chapter 05
  6. Chapter 06
  7. Chapter 07
  8. Chapter 08
  9. Chapter 09
  10. Chapter 10
Guide
Pages
Monetising Data: How to Uplift Your Business

Andrea Ahlemeyer-Stubbe

Director Strategical Analytics at the servicepro Agentur fr Dialogmarketing und Verkaufsfrderung GmbH, Munich, Germany

Shirley Coleman

Technical Director, ISRU, School of Mathematics and Statistics, Newcastle University, UK

This edition first published 2018 2018 John Wiley Sons Ltd All rights - photo 2

This edition first published 2018
2018 John Wiley & Sons Ltd

All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted, in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, except as permitted by law. Advice on how to obtain permission to reuse material from this title is available at http://www.wiley.com/go/permissions.

The right of Andrea AhlemeyerStubbe and Shirley Coleman to be identified as the authors of this work has been asserted in accordance with law.

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Limit of Liability/Disclaimer of Warranty
While the publisher and authors have used their best efforts in preparing this work, they make no representations or warranties with respect to the accuracy or completeness of the contents of this work and specifically disclaim all warranties, including without limitation any implied warranties of merchantability or fitness for a particular purpose. No warranty may be created or extended by sales representatives, written sales materials or promotional statements for this work. The fact that an organization, website, or product is referred to in this work as a citation and/or potential source of further information does not mean that the publisher and authors endorse the information or services the organization, website, or product may provide or recommendations it may make. This work is sold with the understanding that the publisher is not engaged in rendering professional services. The advice and strategies contained herein may not be suitable for your situation. You should consult with a specialist where appropriate. Further, readers should be aware that websites listed in this work may have changed or disappeared between when this work was written and when it is read. Neither the publisher nor authors shall be liable for any loss of profit or any other commercial damages, including but not limited to special, incidental, consequential, or other damages.

Library of Congress CataloginginPublication data applied for

ISBN: 9781119125136

Cover Design: Wiley
Cover Images: (Business people) JohnnyGreig/Gettyimages; (Currencies) Inok/iStockphoto

This book is dedicated to
Agnes, Albert, Christopher, Dirk, Rosie and Rowan
With thanks

About the Authors

Andrea AhlemeyerStubbe is Director of Strategical Analytics at serviceproAgentur fr Dialogmarketing und Verkaufsfrderung GmbH, Munich, Germany (servicepro).

Upon receiving her Masters degree in statistics from the University of Dortmund, Andrea formed a consulting firm, offering customised professional services to her clients. She now leads servicepros analytics team, working on international projects for wellknown brands in Europe, United States and China, drawing on the wealth of experience gained from her 20 years in the industry, specifically in the areas of data mining, data warehousing, database marketing, CRM, big data and social CRM. She is a frequent lecturer at several universities, as well as an invited speaker at professional conferences. She writes for special interest magazines as well as marketing and management publications. She was President of ENBIS (European Network for Business and Industrial Statistics) from 20072009.

Dr Shirley Coleman is Principal Statistician and Technical Director at the Industrial Statistics Research Unit, School of Mathematics and Statistics, Newcastle University and a visiting scholar at the Faculty of Economics, Ljubljana University, Slovenia. She works on data analytics in small and medium enterprises and the energy sector and contributed a highly ranked impact case study to Newcastle Universitys Research Excellence Framework. She publishes in trade and academic journals and is coeditor of several books. She is an elected member of the International Statistics Institute and a Chartered Statistician of the Royal Statistical Society. She is a wellknown international invited speaker and conference chair. She is an ambassador for communication and dissemination of statistics to the wider community. She was President of ENBIS (European Network for Business and Industrial Statistics) from 20042005.

The authors have previously collaborated on A Practical Guide to Data Mining for Business and Industry (Wiley, May 2014).

List of Figures
Where does big data come from?
Big data empowers business
Roadmap to success
Wish list for generating money out of data
Monetising data
Demings Plan, Do, Check, Act quality improvement cycle
Six Sigma quality improvement cycle
Example of data maturity model
Data improvement cycle
Big data definition
Internet of things timeline
Example data structure
NoSQL management systems
Big data structure and latency
Supervised learning
Unsupervised learning
The CRISPDM process
The SEMMA process
General representation of the data mining process
Time periods for data mining process
Stratified sampling
Lift chart for model comparison
Lift chart at small scale
An example of model control
Raw data from a customer transaction
Bar chart of relative frequencies
Example of cumulative view
Example of a Pareto chart
Example of a pie chart
Scatterplot of company age and auditing behaviour with LOWESS line
Scatterplot of design options
Ternary diagram showing proportions
Radar plot of fitness panel data
Example of a word cloud
Example of a mind map
Location heat map
Density map for minivans
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