DATA MINING CUP 2013: over the finishing line with the shopping basket
The tasks for the 14th edition of the DATA-MINING-CUP have been published today. Young data miners from around the world face up to find the solution to two tasks relating to intelligent data analysis (data mining). This year concerns the forecasts for orders in an online shop.
(firmenpresse) - When visiting a shop (also called a session in e-commerce) the potential customer usually browses through the shop, clicks on product detail pages, looks for particular items and places them in the shopping basket. But not every brimming shopping basket and not every product that it contains finally makes its way to the checkout. With such targeted incentives as vouchers at the right time and location in the shopping process, or also with the recommendation of other strong selling products, the dealer is able to significantly increase the probability of an order and the value of the shopping basket. The analysis of all transactions within a customer's visit to the online shop enables the retailer to predict whether the session will finally result in the purchase of the relevant product.
The DATA MINING CUP Competition has been launched today and this year will deal in particular with forecasting orders in an online shop. The international teams will again solve two tasks. The classic data mining task for the participants is to use historical and real anonymous shop data that arise during the sessions and contain information on whether there was finally an order for the shopping basket items or not to develop a model that is suitable for forecasting orders in future sessions in the same shop.
The second task involves implementing an agent that is able to forecast the probability of an order during a session after each individual transaction.
The students have a total of six weeks to solve either one or both tasks. The two tasks will be assessed independently of each other.
To date 49 teams from 42 educational establishments and 13 countries have already registered their participation. Participants can register online at www.data-mining-cup.de/en/dmc-competition/registration up to the deadline for submitting the results, i.e. 15.05.2013. The best three teams will get attractive financial and other prizes.
prudsys will publish who are some of the best up-and-coming data miners during its 2013 User Days. The two-day event, which this year takes place in the Berlin Maritim proArte Hotel from 02 to 03 July 2013, has been providing information about news, trends and technological developments relating to data mining as well as innovative business cases for retail today and tomorrow for 14 years.
The schedule for the DATA-MINING-CUP 2013 at a glance:
- Start of DMC Competition with the publication of the tasks: 03 April 2013
- Submission deadline for the results: 15 May 2013
- prudsys User Days including prize-giving: 02-03 July 2013, Maritim pro Arte Hotel Berlin
For more information on the DATA MINING CUP 2013 refer to:
www.data-mining-cup.com
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
prudsys AG as one of the technology leader for intelligent data analytics concentrates among classic Data Mining on the development and integration of high-quality real-time analytics solutions.
The prudsys Realtime Decisioning Engine (prudsys RDE) is a leading service-oriented solution for real-time analytics, forecasts and intelligent recommendations. The modular structure enables to build a multi-channel global solution which matches the specific requirements. With IREUS the prudsys AG especially offers for small and medium online shops selected features of the prudsys RDE as a software as a services.
The prudsys products are used world-wide. In Germany alone, approximately 50% of the top twenty mail order businesses such as OTTO, Heine, Conrad Electronic, bonprix and Baur and countless other Top 100 mail-order specialists (Source: Versandhausberater - Mail-Order Adviser) such as 3 Pagen/3 Suisse, buch.de and Mexx rely on prudsys solutions.
prudsys AG is the holder of numerous German and international patents. Furthermore, prudsys AG is the organiser of the world's biggest data mining competition, the DATA MINING CUP.
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Datum: 03.04.2013 - 11:30 Uhr
Sprache: Deutsch
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