Economics of Information
Local subject classificationactionability
data mining economics
knowledge discovery systems
MetadataShow full item record
CitationA Decision-Theoretic Approach to Data Mining 2003, 33(1):1-10 IEEE Transactions on Systems, Man, and Cybernetics. Part A.
AbstractIn this paper, we develop a decision-theoretic framework for evaluating data mining systems, which employ classification methods, in terms of their utility in decision-making. The decision-theoretic model provides an economic perspective on the value of â extracted knowledge,â in terms of its payoff to the organization, and suggests a wide range of decision problems that arise from this point of view. The relation between the quality of a data mining system and the amount of investment that the decision maker is willing to make is formalized. We propose two ways by which independent data mining systems can be combined and show that the combined data mining system can be used in the decision-making process of the organization to increase payoff. Examples are provided to illustrate the various concepts, and several ways by which the proposed framework can be extended are discussed.
TypeJournal Article (Paginated)
Showing items related by title, author, creator and subject.
e-Research and the Ubiquitious Open Grid Digital Libraries of the FuturePatkar, Vivek; Chandra, Smita (2006)Libraries have traditionally facilitated each of the following elements of research: production of new knowledge, its preservation and its organization to make it accessible for use over the generations. In modern times, the library is constantly required to meet the challenges of information explosion. Assimilating resources and restructuring practices to process the large data volumes both in the print and digital form held across the globe, therefore, becomes very important. A recourse by the libraries to application of successive forms of what can be called as Digital Library Technologies (DLT) has been the imperative. The Open Archives Initiative (OAI) is one recent development that is expected to assist the libraries to partner in setting up virtual learning environment and integrating research on a near universal scale. Future extension of this concept is envisaged to be that of Grid Computing. The technologies driving the â Gridâ would let people share computing power, databases, and other on-line tools securely across institutional and geographic boundaries without sacrificing the local autonomy. Ushering an era of the ubiquitous library helping the e-research is thus on the card. This paper reviews the emerging technological changes and charts the future role for the libraries with special reference to India.
SIPP ACCESS: Information tools improve access to national longitudinal panel surveysRobbin, Alice; David, Martin (Reference and Adult Services Division (RASD) of the American Library Association, 1988)SIPP ACCESS represents an innovation in providing services for statistical data. A computer-based, integrated information system incorporates both the data and information about the data. SIPP ACCESS systematically links the technologies of laser disk, mainframe computer, microcomputer, and electronic networks and applies relational technology to create great efficiencies and lower the costs of storing, managing, retrieving, and transmitting data and information about complex statistical data collections. This information system has been applied to national longitudinal panel surveys. The article describes the reasons why SIPP ACCESS was created to improve access to these complex surveys and provides examples of tools that facilitate access to information about the contents of these large data sets.
Design and evaluation of a user interface supporting multiple image query modelsMostafa, Javed; Dillon, Andrew; Hardin, Steve (Medford, N.J.: ASIS, 1996)This item is not the definitive copy. Please use the following citation when referencing this material: Mostafa, J. and Dillon, A. (1996) Design and Evaluation of a User Interface Supporting Multiple Image Query Models. Proceedings of the 59th Annual Conference of the American Society for Information Science, Baltimore, MD, USA, October 21-26, 1996. I. Introduction: Digital image use occurs in many fields. For example, in the area of medicine, huge volumes of digital images are routinely generated for diagnostic purposes, sometimes reaching gigabyte range (Gitlin, 1992). Besser (1990) has designed highly innovative image- based selection systems to improve access to visual resources in architecture, anthropology and art collections. There are also signs that museums and archives have accepted the value of digital image technology in their environments (Besser, 1991; Wentz, 1989). Unfortunately, the technology for effective storage and retrieval of images has not kept pace with the technology of image production. The situation has reached such a critical stage that National Science Foundation (NSF) organized a special workshop on the topic of visual information management (Jain, 1993). The NSF workshop report stated, "It would be impossible to cope with this explosion of image information, unless the images were organized for retrieval. The fundamental problem is that images, video, and other similar data differ from numeric data and text data format, and hence they require a totally different technique of organization, indexing and query processing." This paper addresses the critical need for different techniques in improving retrieval of digital images. Our position is that the user interface is the principal component responsible for facilitating retrieval in databases. Therefore, to assure effective access design of interfaces need to be improved.