The purpose of data mining is to discover patterns that can be used by a business or any organization to aid in the day-to-day operations of the firm. In data mining, there are two sorts of models: profiling models and predictive models. When the target and inputs are from the same time frame, a profiling model is used, and a predictive model is used when the target is from a later time frame than the inputs. The main tool for directed data mining is the predictive model.
The historical data provides examples of all the target values and directed data mining focuses on one or more variables that are targets. In other words, directed data mining looks for patterns that explain the goal values rather than just any pattern in the data. There are several tools for data mining, but we concentrated on only three predictive modelling techniques in our project: decision trees, logistic regression, and neural networks. In this section, we'll go through all of these strategies in detail.
There are eleven steps in the direct data mining process. First, we convert the business challenge into a data mining problem in our project. Then we choose info that is relevant. Then we learn about the data. We develop a model set after admitting the data.
After that, we repair data issues and transform data to bring information to the surface. After that, we create and evaluate models. The next stage is to put the models into action and evaluate the results. Finally, if there is an issue, we must start over. Because it can be applied on a wide range of problems and creates models that explain how they function, decision trees are one of the most powerful directed data mining approaches.
A decision tree is a hierarchical set of rules that describe how to divide many records into smaller groups. A root node, branches, and leaf nodes make up the structure.
Each internal node represents an attribute test, each branch represents a test result, and each leaf node represents a class label. The root node is the highest node in the tree. The data is divided into smaller groups through a decision tree, with each new set of nodes having more purity than its ancestor in terms of the goal variable.
The best split is one that increases purity in the children the most, makes nodes of equal sizes, or at the very least does not create nodes with a small number of records. Logworth, Entropy, and Gini are used for categorical targets. CART is a supervised model, where it has a sample of the population withheld. CHAID is an unsupervised technique, and it uses the entire model to build the tree. Gini is a measure of how often a randomly selected element from the set would be labelled erroneously if it were labelled according to the distribution of labels in the subset.
If the score is 0. Because purer nodes have better scores, the Gini score of the split must be maximized. The Gini score of a fully pure node is 1.
Purity is defined by entropy in the same way that machine learning is defined. The entropy for a node is the sum, for all the target in the node, of all proportion of records which certain value is multiplied by base two logarithm of that proportion.
Because the logarithm probability value is always negative, the sum is multiplied by - 1. The entropy is the weighted average of all the entropies of the children. The split that reduces entropy the most is chosen by the decision tree. It is necessary to compute Logworth chi-square statistics between the binary targets and all alternative splits to discover the optimal split. Then figure out which of the chi-square statistics has the highest logworth.
Compare the best split across all input variables and pick the best split with the highest logworth. They are also the most common types of decision trees used because they are easy to be understood. The CART method grows binary trees and splits them indefinitely if fresh splits that boost purity can be identified.
It then chooses one of the candidate models to apply to the validation set, with the tree with the lowest misclassification rate being chosen as the final model. The Chi-Square test compares observed results to theoretical values. Values that deviate from theory and are independent are chopped off, and the tree comes to a halt at that branch.
The Chi-squared test is used to see if the distribution of validation set results differs from the distribution of training set results. It's a foresight analysis. To describe data and explain the relationship between one dependent binary variable and one or more nominal, ordinal, interval, or ratio-level independent variables, logistic regression is utilized.
The target binary outcome takes only two value, 1 or 0. Odds ratio is a measure of association between an exposure and an outcome. It represents the odds an outcome will occur given a particular exposure, compared to the odds of the outcome occurring in the absence of that exposure. Logistic regression begins with the explanation of logistics function which takes on value zero and one. In our project, we have assigned eight logistic regression models connected to the impute node.
Poly Degree: specifies the polynomial degree when the term was included in the model. The structure and function of the human brain were used to create neural networks. Learning algorithms that analyze any given categorization challenge are known as artificial neural network models.
To turn raw data into valuable information, neural networks are utilized in data mining. They are capable of handling complex models and, in comparison to statistical methods, are simple to comprehend. They adapt themselves as they self-learn as new information is processed. Because neural networks can generalize and learn from data input, they can be used to model neural connections in human brains. Artificial neuron networks have a structure that is quite similar to biological neuron networks in that they are made up of artificial neurons and connections between them.
When an artificial neuron receives input and produces output, this is known as the node's activation function. The combination and transfer functions are the two halves of the activation function. The inputs are combined into a single value by the combination function, which is then transferred to the transfer function to produce output.
It usually employs a set of weights for each of the inputs. Each input has its own monetary value. During the training of the network, the best values are assigned to the weights. The weighted sum is calculated by multiplying the input by its weight and then adding the products together. The transfer function is the following function.
A mathematical description of the relationship between inputs and outputs is a transfer function. It defines how closely an artificial neuron resembles a biological neuron in terms of behavior. The common transfer functions used are step, linear, logistic, and hyperbolic tangent functions. Sachin and Binny Bansal co-founded the e-commerce site in after resigning from their jobs at Amazon India.
With Rs. The duo initially did everything, from programming, forging supplier relationships and book procurement to logistics, packing and shipping. We became profitable in six months. Today, it offers four million. It has , registered users, and has sold , books so far.
Half the buyers have returned to buy a second book. There are websites that offer better discounts, but Flipkart plans to focus on expanding logistics and adding value. The discounts and free shipping are possible because of our sales volumes, and low expenses on overheads like rent — all of which we are passing on to the customer.
Rise of E-Commerce- The Indian Scenario Page 15 of 37 delivery COD scheme for those who hesitate to pay online owing to security fears now brings in 30 per cent of the revenue. Flipkart also continually tweaks its website, for that is where customer satisfaction first meets the technology.
A preview of select pages from books will soon be up. Users have been demanding a loyalty scheme, and that too is being worked out. A better search engine, a simpler payment mechanism…the wish list stretches. When you browse the website, add items to the shopping cart, and confirm your order, you trigger Flipkart's automated communication system. It reads your postal address code and routes the purchase order to one of the company's four warehouses — in Mumbai, Delhi, Kolkata and Bangalore.
If the book is not in stock, the nearest supplier is automatically queried. When the book is available, it is packed and picked up by a courier company within four to 24 hours.
The book arrives at your address within one to three days. In the future, a customer can order a book in the morning and get it by evening. Flipkart is also deepening its presence in book selling by targeting the regional language book market, which has largely been untapped. Things are easier said than done! To realize our dreams and that also in such a grand manner is really a tough task. The founders of Flipkart have probably conquered their dreams with the amazing success of Flipkart.
Flipkart is something which has really opened up the Indian e-commerce market and that also in a big way. Flipkart began with selling books, since books are easy to procure, target market which reads books is in abundance, books provide more margin, are easy to pack and deliver, do not get damaged in transit and most importantly books are not very expensive, Rise of E-Commerce- The Indian Scenario Page 16 of 37 so the amount of money a customer has to spend to try out one's service for one time is very minimal.
Flipkart sold only books for the first two years. Flipkart started with the consignment model procurement based on demand i.
In the initial months the founder's personal cell numbers used to be the customer support numbers. So, in the start they tried their best to provide good service, focus on the website - easy to browse and order and hassle-free, and strove hard to resolve any customer issues. Since there were not any established players in the market, this allowed them a lot of space to grow, and they did in fact grew very rapidly.
The company started from 2 employees and now has around employees. Flipkart started with consignment model as discussed above, since most of the customer issues like delivery delays etc. The company opened its first warehouse in Bangalore and later on opened warehouses in Delhi, Kolkata and Mumbai.
Today the company works with more than suppliers. A humble beginning from books, Flipkart now has a gamut of products ranging from: Cell phones, laptops, computers, cameras, games, music, audio players, TV's, healthcare products, washing machines etc. The electronic market share is distributed among them in different unknown proportions. India has around Thus India has a tremendous internet growth and with the customers getting accustomed to e- An approximated 25 lac people have transacted online this year, the number is all set to increase with time.
The use of mobile internet is very less at the moment, but with the advent of smart phones the use of mobile internet for e-commerce transactions will soar with time. India has 8 crore mobile net users at the moment, the number is expected to swell to Factors that lead to the grand success of Flipkart 1 They always strove to provide great customer service.
Flipkart customers are happier than with some of their competitors like Tradus. This is because of two reasons, one is many people do not know how to make payments online. And secondly people do not have immense trust in e-commerce in India. Flipkart also provides a 30 day replacement guarantee on its products and EMI options to its customers for making payments. The company targets to have a customer base of 1 crore by Customer satisfaction has been their best marketing medium.
Flipkart recently launched a series of 3 ads with the tag line - "No Kidding No worries". Kids were used to create the adverts to send out the message - if a kid can do it, you can also do it. The message is very clear to make people more comfortable with Flipkart, to generate a great customer relationship and loyalty on the basis of great product prices and excellent customer service.
All in all to create a great customer experience. And, finally we would like to dedicate this study report to our parents, who is an inspiration in our personal life. Group p7. The research is conducted about the online shopping trend which is spreading throughout the world using various shopping applications.
Project Report Submitted for the Degree of B. Project Faculty Guide , under whose guidance I have successfully completed this project and time spent with him had been a great learning experience.
I think him constant encouragement, warm responses and for filling every gap with valuable ideas has made this project successful. We are highly thankful to all of them for their help and encouragement. We wish to acknowledge our great debt to all of them whose ideas and contribution influenced me to complete the project work. This project report, which he is submitting is his genuine and original work to the best of my knowledge.
I also declare that no chapter of this manuscript in completely or in part has been incorporated in this report from any earlier work done by others or by me. However, extracts of any literature which has been used for this report has been duly acknowledged providing details of such literature in this references.
E-commerce is the buying and selling of goods and services on the Internet or other computer network. Any brick and mortar store can become an e-commerce business by adding a virtual storefront with an online catalogue.
In most cases, e-business refers exclusively to Internet businesses, but it may also refer to any business that uses Internet technology to improve productivity and profitability. E-business includes all aspects of running a business that sells goods and services, including marketing, earning and retaining customers, procurement, developing business partners and customer education.
In order to be successful, e-commerce and e- businesses must have quality storefronts that are simple to navigate and peruse, with accurate and thorough catalogue information. E- business became an extension of e-commerce to encompass all aspects of businesses that function online. E-business involves e-commerce, but e- Commerce does not cover all aspects of e-business. As an example, a wholesaler places an order from a company's website and after receiving the consignment, sells the end product to final customer who comes to buy the product at wholesaler's retail outlet.
A customer can view products shown on the website of business organization. The customer can choose a product and order the same. Website may or may not charge the consumer for its services. Consumer - to - Business C2B In this model, a consumer approaches website showing multiple business organizations for a particular service. Business organization who fulfills the consumer's requirement within specified budget approaches the customer and provides its services.
Such websites are used by government to trade and exchange information with various business organizations. Such websites are accredited by the government and provide a medium to businesses to submit application forms to the government.
Such websites support auctions, tenders and application submission functionalities. Such websites support auctions of vehicles, machinery or any other material.
Such website also provides services like registration for birth, marriage or death certificates. Main objectives of G2C website are to reduce average time for fulfilling people requests for various government services. Exploitation of New Business Broadly speaking, electronic commerce emphasizes the generation and exploitation of new. Enabling the Customers Electronic Commerce is enabling the customer to have an increasing say in what products are made, how products are made and how services are delivered movement from a slow order fulfillment process with little understanding of what is taking place inside the firm, to a faster and rt1ore open process with customers having greater control.
Improvement of Business Transaction Electronic Commerce endeavors to improve the execution of business transaction over various networks.
Effective Performance It leads to more effective performance i. Execution of Information It enables the execution of information-laden transactions between two or more parties using inter connected networks. Information based transactions are creating new ways of doing business and even new types of business. Incorporating Transaction Electronic Commerce also inco11'orates transaction management, which organizes, routes, processes and tracks transactions.
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