Customer Analysis Using Machine Learning Algorithms: A Case Study Using Banking Consumer Dataset

The aim of each enterprise is to achieve high revenue from the business and to stay in a high position from their competitors. To archive high revenue and high position from competitors the need of understanding the business consumers is a crucial one. However the firm business is completely dependent on the consumers the efficient analysis of consumers within the enterprises makes to achieve the business to high position. To perform effective consumer analysis, in this study different machine learning is studied and experimented. ML classifiers make to understand in-depth analysis about the consumer data and further enables to plan wise decision strategies to enhance the business revenue and consumer satisfaction intelligently. The use of different ML classifiers is to sort out how the customer prediction outcome changes accordingly to the ML classifier is applied. This makes to find the best ML classifier for the consumer dataset applied in this study. The experimental procedure is performed using different ML classifiers and the outcome achieved is captured and projected using various validity scores. This work applies different ML classifiers like K-NN, C4.5, Random Forest, Random Tree, LR, MLP and NB for customer analysis. The empirical results illustrate the C4.5 model achieves better accuracy prediction compare to other ML classifiers and also compared with the time complexity NB model works efficiently with running time.

The tie-up blues for Vanya’s Dance Planet: A failure case of social media marketing

This case study covers various aspects of social media as an alternative and cost-effective tool of marketing and promotion. The case also highlights the social media promotion tools used by a social media consultancy start-up for a client, and how it failed to achieve desired results. In this world of digitisation, social media marketing is a trend that is prevalent across the globe. Social networks have changed the way information is delivered to the customers, shifting from traditional push marketing to pull marketing. Entrepreneurs are using social media marketing to promote their product or services by this they can not only promote their venture but at the same time efficiently utilise their marketing budget. Vanya’s Dance Planet is such an organisation which used social media marketing to reach out to its target prospective customers. It required structured planning, professional knowledge about various social media platforms, and creative writing skills to post content on these platforms. The consultant organisation We4U planned and executed the social media campaigns for Vanya’s Dance Planet getting professional help from social media consultancy start-ups which can be a wise decision for some entrepreneurial ventures. But sometimes these professional tie-ups would end up with loss of time, money and trust. This case study deliberates upon such a fallout.

Foundations of a Wisdom-Cultivating Pedagogy: Developing Systems Thinking across the University Disciplines

Efforts to educate for wisdom are sorely needed in order to solve humanity’s most pressing problems, as explained by philosopher Nicholas Maxwell and psychologist Robert Sternberg, among others. This paper explains that the handful of wisdom pedagogies that have been put forward to date, however, are inadequate for developing the sort of wisdom that can solve our major problems, because they fail to identify and target for development four cognitive functions necessary for wise decision-making. These functions are causal analysis, prospection, social cognition, and metacognition. I show how adequately performing these cognitive functions, which constitute the core of systems thinking, is necessary for solving our most serious global problems, as various systems-thinking experts have also argued. Drawing on recent research on learning and the development of expertise, I explain how the capabilities to perform these functions can be developed by pedagogical methods that help students construct more adequate cognitive models of (i) natural, social, and psychological systems of cause and effect and (ii) the cognitive procedures required to comprehend and effectively intervene in these systems. The basic principles for implementing this wisdom/systems-thinking pedagogy across academic disciplines are explained, and examples from different disciplines are provided.

Adaptive management: making recurrent decisions in the face of uncertainty

The key to wise decision-making in disciplines such as conservation, wildlife management, and epidemiology is the ability to predict consequences of management actions on focal systems. Predicted consequences are evaluated relative to programme objectives in order to select the favoured action. Predictions are typically based on mathematical models developed to represent hypotheses about management effects on system dynamics. For populations ranging from large mammals to plant communities to bacterial pathogens, demographic modelling is often the approach favoured for model development. State variables of such models may be population abundance, density, occupancy, or species richness, with corresponding vital rates such as rates of reproduction, survival, local extinction, and local colonisation. A key source of uncertainty that characterises such modelling efforts is the nature of relationships between management actions and vital rates. Adaptive management is a form of structured decision-making developed for decision problems that are recurrent and characterised by such structural uncertainty. One approach to incorporating this uncertainty is to base decisions on multiple models, each of which makes different predictions according to its underlying hypothesis. An information state of model weights carries information about the relative predictive abilities of the models. Monitoring of system state variables provides information about system responses, and comparison of these responses with model-based predictions provides a basis for updating the information state. Decisions emphasise the better-predicting model(s), leading to better decisions as the process proceeds. Adaptive management can thus produce optimal decisions now, while simultaneously reducing uncertainty for even better management in the future.

From data mining to wisdom mining

The knowledge gained from data mining is highly dependent on the experience of an expert for further analysis to increase effectiveness and wise decision-making. This mined knowledge requires actionability enhancement before it can be applied to real-world problems. The literature highlights the reasons that emerged the need to incorporate human wisdom in decision-making for complex problems. To solve this problem, a domain called ‘Wisdom Mining’ is recommended, proposing a set of algorithms parallel to the algorithms proposed by the data mining. In wisdom mining, a process to extract wisdom needs to be defined with less influence from an expert. This review proposed improvements to data mining techniques and their applications in the real world and emphasised the need to seek ways to harness wisdom from data. This study covers the diverse definitions and different perspectives of wisdom within philosophy, psychology, management and computer science. This comprehensive literature review served as a foundation for constructing a wise decision framework that aided in identifying the wisdom factors like context, utility, location and time. The inclusion of these wisdom factors in existing data mining algorithms makes the transition from data mining to wisdom mining possible. This research includes the relationship between these two mining process that facilitated further elucidation of the wisdom mining process. Potential research trends in the domain are also seen as a potential endeavour to improve the analysis and use of data.

Phronesis (Practical Wisdom) as a Type of Contextual Integrative Thinking

Coinciding with the recent psychological attention paid to the broad topic of wisdom, interest in the intellectual virtue of phronesis or practical wisdom has been burgeoning within pockets of psychology, philosophy, professional ethics, and education. However, these discourses are undercut by frequently unrecognized tensions, lacunae, ambivalences, misapplications, and paradoxes. While a recent attempt at conceptualizing the phronesis construct for the purpose of psychological measurement offers promise, little is known about how phronesis develops psychologically, what motivates it, or how it can be cultivated. Many psychologists aspire to make sense of wise thinking without the contextual, affective, and holistic/integrative resources of phronesis. This article explores some such attempts, in particular, a new “common model” of wisdom. We argue for the incremental value of the phronesis construct beyond available wisdom accounts because phronesis explains how mature decision-making is motivated and shaped by substantive moral aspirations and cognitively guided moral emotions. We go on to argue that, in the context of bridging the gap between moral knowledge and action, phronesis carries more motivational potency than wisdom in the “common model.” The phronesis construct, thus, embodies some unique features that psychologists studying wise decision-making ignore at their peril.

Productivity Improvement using Time Study Analysis in a Small-Scale Import-Export Industry

The pattern of economic aggressiveness has exchanged worldwide. Many countries have joined the worldwide economic competition to capture the worldwide market to remain moneymaking and competitive by increasing their production. There are so many factors that influence the efficiency of a manufacturing system. The most widely addressed issue is how to increase production. Motion and time study approach are one of the productivities increasing techniques assist in many manufacturing industries. Productivity plays a significant or significant role in a company. There are many reasons for which productivity decreases, and there are various methods to improve productivity. However, choosing which method to use according to the situation is a wise decision. This study was done in an industry engaged in manufacturing Desk Accessories, Bag, Industrial Tool Kit, Leather Product and Home Furnishing products. The time study data for making the U bag process faster decreases the time taken for making bags and increases the production rate to increase productivity. The data was collected, and significant improvement in changeover time was observed

Shifting gears for the automated vehicle: findings from focus groups in the Greater Toronto and Hamilton area

The emergence of automated vehicles (AVs) may potentially transform the ways in which individuals travel, and integrating the impacts and opportunities of AVs into travel demand forecasts and transportation planning will be important for wise decision-making. This paper presents findings from focus groups designed to explore Greater Toronto and Hamilton Area (GTHA) residents’ interest and responses to AVs. Results suggest that the general public is interested in AVs and eager to learn more, and that individual travel habits carry significant weight. The findings from this study emphasize the planner’s responsibility to engage in consultations internally, within organizations and across departments, as well as externally, with stakeholders and members of the community. On-going internal and external engagements will first allow organizations to prepare and consolidate appropriate strategies for this disruptive technology, and second, will keep the public sphere informed and engaged in the implementation of AVs. Key words: automated vehicles, planning, transportation, travel behaviour, focus groups.

Shifting gears for the automated vehicle: findings from focus groups in the Greater Toronto and Hamilton area

The emergence of automated vehicles (AVs) may potentially transform the ways in which individuals travel, and integrating the impacts and opportunities of AVs into travel demand forecasts and transportation planning will be important for wise decision-making. This paper presents findings from focus groups designed to explore Greater Toronto and Hamilton Area (GTHA) residents’ interest and responses to AVs. Results suggest that the general public is interested in AVs and eager to learn more, and that individual travel habits carry significant weight. The findings from this study emphasize the planner’s responsibility to engage in consultations internally, within organizations and across departments, as well as externally, with stakeholders and members of the community. On-going internal and external engagements will first allow organizations to prepare and consolidate appropriate strategies for this disruptive technology, and second, will keep the public sphere informed and engaged in the implementation of AVs. Key words: automated vehicles, planning, transportation, travel behaviour, focus groups.

Non-Vaccination Stage Model (NVST): The decision-making process among Israeli ultra-orthodox Jewish parents

Although vaccination uptake is high in most countries, pockets of suboptimal coverage remain, such as those observed among ultra-orthodox Jews in Israel and elsewhere, posing a threat to both individual and public immunity. Drawing on the Precaution Adoption Process Model (PAPM), this study proposes a Non-Vaccination Stage Model (NVSM) to analyze the decision-making process among Non-Vaccinating Parents (NVPs), focusing on the ultra-orthodox Jewish population of Israel. In-depth interviews were conducted with 10 Israeli ultra-orthodox Jewish NVPs (mothers). The interviews revealed five stages in the participants’ decision-making process: Being good mothers who vaccinate their children; Emergence of doubts regarding the risks of vaccination; Personal vaccination policy—hesitancy concerning vaccination; Decision not to vaccinate; Confirmation signs of what participants perceive as a wise decision. NVSM can help understand parents who consider non-vaccination to be healthier behavior and explore the various stages of their decision-making process. Differentiating among the various stages of NVPs’ decision-making processes enables application of different intervention approaches by policymakers and healthcare practitioners.