The relentless increase in computing power and the accumulation of big data over the years has sparked intense interest in machine learning and its associated techniques. The new SAS Visual Data Mining and Machine Learning software will feed this need for smarter analytics. Advanced analytics offer insight to businesses, but machine learning and deep learning algorithms take it deeper, revealing insights that were previously out of reach. For example, machine learning use can include facial recognition in security systems, speech recognition in customer service applications, accurate product recommendations in e-commerce, self-driving cars and medical diagnostics. "SAS Visual Data Mining and Machine Learning shatters barriers related to data volume and variety, limited analytical depth and computational bottlenecks.
This paper presents approaches to determine a network based pricing for 3D printing services in the context of a two-sided manufacturing-as-a-service marketplace. The intent is to provide cost analytics to enable service bureaus to better compete in the market by moving away from setting ad-hoc and subjective prices. A data mining approach with machine learning methods is used to estimate a price range based on the profile characteristics of 3D printing service suppliers. The model considers factors such as supplier experience, supplier capabilities, customer reviews and ratings from past orders, and scale of operations among others to estimate a price range for suppliers' services. Data was gathered from existing marketplace websites, which was then used to train and test the model. The model demonstrates an accuracy of 65% for US based suppliers and 59% for Europe based suppliers to classify a supplier's 3D Printer listing in one of the seven price categories. The improvement over baseline accuracy of 25% demonstrates that machine learning based methods are promising for network based pricing in manufacturing marketplaces. Conventional methodologies for pricing services through activity based costing are inefficient in strategically pricing 3D printing service offering in a connected marketplace. As opposed to arbitrarily determining prices, this work proposes an approach to determine prices through data mining methods to estimate competitive prices. Such tools can be built into online marketplaces to help independent service bureaus to determine service price rates.
We are pleased to announce the second edition of our book Data Mining and Machine Learning: Fundamental Concepts and Algorithms, Second Edition, by Mohammed J. Zaki and Wagner Meira, Jr., published by Cambridge University Press, 2020. The entire book is available to read online for free and the site includes video lectures and other resources. New to this edition is an entire part devoted to regression and deep learning. The fundamental algorithms in data mining and machine learning form the basis of data science, utilizing automated methods to analyze patterns and models for all kinds of data in applications ranging from scientific discovery to business analytics. This textbook for senior undergraduate and graduate courses provides a comprehensive, in-depth overview of data mining, machine learning and statistics, offering solid guidance for students, researchers, and practitioners.