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September 06, 2004

Survival of the Fittest

Survival analysis could help you predict that one of your best customers is about to jump ship for a competitor. Or it could help you decide whether that costly promotion is really going to be worth it. Or it could help you tailor that next catalog mailing and double your return.
The aptly named analytic technique, also called survival data mining, has been used by doctors for decades to predict the life expectancy of heart-transplant patients and by biologists to assess the probability that a cell invaded by a virus will die within 24 hours. Engineers have long used it to estimate the mean time to failure of a disk drive or a robotic welder. More recently, sociologists and psychologist have started using it to predict when certain types of people will divorce or seek help for depression.

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Posted by thinkingmachine at September 6, 2004 06:09 AM

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