Statistical Data Mining

Statistical data mining encompasses a wide variety of methods including probabilistic models, machine learning & non-linear optimisation.

Statistical data mining is the task of applying automated techniques for two purposes:

Finding hidden gems or behaviours buried deep within data sets that can be used to increase revenue and reduce wastage
Describing, simplifying and summarising what would otherwise be intractably substantial quantities of data so that it can be easily interpreted by reporting analysts and decision makers.

An example of statistical data mining is the application of classical market basket analysis algorithms, to analyse the performance of landing pages or ad creative. Eservices Performance has even designed its own algorithms to predict the value of online media, over time.