Preface to the workshop on cost sensitive data mining

Vadera, S; Saraee, MH; Lomax, SE

Abstract

Much of the early work on data mining concentrated on developing algorithms that focused on classification accuracy. A more challenging and practical problem is to devise algorithms that learn rules or associations that optimize income and take better account of costs. Thus, for example, in marketing, we are interested in identifying investments that produce greatest income given the cost of marketing. In medical diagnosis we need to take account of the costs of tests required in diagnosis, such as blood tests, x-rays and scans. This is an important and growing research area, which has produced interesting work in such areas as associative rule mining, clustering and classification using a variety of different data mining techniques and is used in a wide range of application domains such as business, drug design, cosmetic industry, food industry, pollution detection and financial crisis prediction.

• Online Publication Date: Jan 11, 2013
• Publication Date: Dec 10, 2012
• Deposit Date: Aug 14, 2018
• Publicly Available Date: Aug 14, 2018
• Book Title: The 12th IEEE International Conference on Data Mining : Workshops
• ISBN: 9781467351645
• DOI: https://doi.org/10.1109/ICDMW.2012.148
• Publisher URL: https://doi.org/10.1109/ICDMW.2012.148
• Related Public URLs: https://ieeexplore.ieee.org/xpl/mostRecentIssue.jsp?punumber=6403636