Concepts inResearch on customer segmentation model by clustering
Economic model
In economics, a model is a theoretical construct that represents economic processes by a set of variables and a set of logical and/or quantitative relationships between them. The economic model is a simplified framework designed to illustrate complex processes, often but not always using mathematical techniques. Frequently, economic models posit structural parameters. Structural parameters are underlying parameters in a model or class of models.
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Conceptual model
In the most general sense, a model is anything used in any way to represent anything else. Some models are physical objects, for instance, a toy model which may be assembled, and may even be made to work like the object it represents. They are used to help us know and understand the subject matter they represent. The term conceptual model may be used to refer to models which are represented by concepts or related concepts which are formed after a conceptualization process in the mind.
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Predictive modelling
Predictive modelling is the process by which a model is created or chosen to try to best predict the probability of an outcome. In many cases the model is chosen on the basis of detection theory to try to guess the probability of an outcome given a set amount of input data, for example given an email determining how likely that it is spam. Models can use one or more classifiers in trying to determine the probability of a set of data belonging to another set, say spam or 'ham'.
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Market segmentation
Gender Price Interests Location Religion Income Size of Household Age Education Occupation Social Class Ethnicity Nationality End use (Example work or leisure) While there may be theoretically 'ideal' market segments, in reality every organization engaged in a market will develop different ways of imagining market segments, and create Product differentiation strategies to exploit these segments.
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Conceptual framework
A conceptual framework is used in research to outline possible courses of action or to present a preferred approach to an idea or thought. For example, the philosopher Isaiah Berlin used the "hedgehogs" versus "foxes" approach; a "hedgehog" might approach the world in terms of a single organizing principle; a "fox" might pursue multiple conflicting goals simultaneously.
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Matrix (mathematics)
In mathematics, a matrix (plural matrices, or less commonly matrixes) is a rectangular array of numbers, symbols, or expressions. The individual items in a matrix are called its elements or entries. An example of a matrix with six elements is Matrices of the same size can be added or subtracted element by element. The rule for matrix multiplication is more complicated, and two matrices can be multiplied only when the number of columns in the first equals the number of rows in the second.
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2D computer graphics
2D computer graphics is the computer-based generation of digital imagesâ€”mostly from two-dimensional models (such as 2D geometric models, text, and digital images) and by techniques specific to them. The word may stand for the branch of computer science that comprises such techniques, or for the models themselves.
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Data
Data are values of qualitative or quantitative variables, belonging to a set of items. Data in computing are often represented by a combination of items organized in rows and multiple variables organized in columns. Data are typically the results of measurements and can be visualised using graphs or images. Data as an abstract concept can be viewed as the lowest level of abstraction from which information and then knowledge are derived. Raw data, i.e.
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