Concepts inMining a stream of transactions for customer patterns
Financial transaction
A financial transaction is an agreement, communication, or movement carried out between a buyer and a seller to exchange an asset for payment. It involves a change in the status of the finances of two or more businesses or individuals. The buyer and seller are separate entities or objects, often involving the exchange of items of value, such as information, goods, services, and money. It is still a transaction if you exchange the goods at one time, and the money at another.
more from Wikipedia
Consumer behaviour
Consumer behaviour is the study of when, why, how, and where people do or do not buy a product. It blends elements from psychology, sociology, social anthropology and economics. It attempts to understand the buyer decision making process, both individually and in groups. It studies characteristics of individual consumers such as demographics and behavioural variables in an attempt to understand people's wants.
more from Wikipedia
Database transaction
A transaction comprises a unit of work performed within a database management system (or similar system) against a database, and treated in a coherent and reliable way independent of other transactions.
more from Wikipedia
Transaction data
Transaction data are data describing an event (the change as a result of a transaction) and is usually described with verbs. Transaction data always has a time dimension, a numerical value and refers to one or more objects. Typical transactions are: Financial: orders, invoices, payments Work: Plans, activity records Logistics: Deliveries, storage records, travel records, etc. Typical transaction processing systems (systems generating transactions) are SAP and Oracle Financials.
more from Wikipedia
Data mining
Data mining (the analysis step of the "Knowledge Discovery in Databases" process, or KDD), a relatively young and interdisciplinary field of computer science, is the process that results in the discovery of new patterns in large data sets. It utilizes methods at the intersection of artificial intelligence, machine learning, statistics, and database systems.
more from Wikipedia
Database
A database is an organized collection of data, today typically in digital form. The data are typically organized to model relevant aspects of reality (for example, the availability of rooms in hotels), in a way that supports processes requiring this information (for example, finding a hotel with vacancies). The term database is correctly applied to the data and their supporting data structures, and not to the database management system (DBMS).
more from Wikipedia