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ModelMAX® is a data mining and analysis software application. It's used for predictive modeling, descriptive modeling, cluster analysis, profiling, and segmentation. ModelMAX® automates the vast majority of work that is required, making it a favorite among business users. ModelMAX® is also very fast and technically proven, making it equally popular and respected among statisticians. For more information please download the ModelMAX® product information sheet.
- No need to be a guru – Knowing which modeling method to use for each situation and following all the associated modeling practices, rules, and conventions requires a great deal of specialized knowledge. With ModelMAX®, the complexity is handled for you. ModelMAX® uses a combination of data mining technologies including statistics, a CHAID and CART-like process, and neural networks. All statistical validations are handled automatically, behind the scenes. You get great results without needing to be a 'modeling guru'.
- Automated variable reduction – Modelers typically spend countless hours systematically reducing the raw list of variables down to just a handful of the most significant ones. ModelMAX® uses a powerful proprietary pre-processing variable analysis technique called UDT™ (Universal Data Transformation™). This technique transparently prepares and transforms input data, and ultimately selects the best variables that should be used in any given model. UDT™ saves users those many hours of tedious work typically associated with variable reduction.
- Complete projects in record time - Completing projects using ModelMAX® is extremely fast. A modeling project can be completed in just a few hours. ModelMAX® users report a 10X gain in productivity over other modeling products. Read ASA's white paper to see how you can reduce a 30 hour project using SAS down to just 2 hours with ModelMAX®.
- Uncomplicated deployment – What good is a predictive model if you can’t put it into production easily. This is the Achilles heel of many modeling tools. ModelMAX® makes model deployment easy. You can score directly to a database, produce code to embed in production applications, or generate PMML. Model deployment is simple and straightforward with ModelMAX®.
The list is quite varied and includes:
- Catalogers and Direct Marketers (Consumer and B-to-B)
- Banks and Financial Institutions
- Retailers and E-Commerce Vendors
- Marketing agencies and Service Bureaus
- Publishers and Membership Organizations
- Fund Raisers and Non-Profits
- Credit Bureaus and Collection Agencies
- Manufacturers and Packaged Goods
- Transportation and Delivery Services
- Gaming, Hotel, and Entertainment Companies
ModelMAX® is capable of creating predictive models and descriptive models. Predictive models typically are used to determine an action or behavior such as response to a promotion; or an amount or value someone will spend. Descriptive models are typically used to understand qualitative aspects such as how certain individuals group together, or what attributes are important with regard to certain actions and outcomes.
If you currently use statistics, you are aware of how important it is to employ the proper technique for each situation based on the type of data being used, the type of output being determined, the distribution of the data, etc. ModelMAX® embeds this knowledge into the product so users can be sure that all the proper statistical conventions and rules are adhered to. ModelMAX® also relieves you of time consuming data preparation tasks, and even recodes and transforms categorical variables. Additionally, ModelMAX® uses a non-linear technique, so it identifies patterns, not just trends, or central tendencies.
The type of clustering and profiling possible with ModelMAX® is highly mathematical. It would take 6 to 12 weeks of very involved statistical analysis to replicate what ModelMAX® can do in just a small fraction of the time.
The best data for modeling contains information that describes the desired behavior. While it’s hard to know what knowledge is embedded in the data, generally, good information is stored in three kinds of data. The best source is typically transactional data such as what was purchased, how often, the price, etc. Promotional data, such as how often someone was mailed, what offers were accepted, outbound and inbound calls, etc, can also be valuable. Lastly, associative data, such as demographic and geographic elements, can add some value. We find that most companies have more than adequate data to develop good models.
No. ModelMAX® uses sample based methods so you don't have to work with a lot of data unless you want to. We suggest a minimum of 20,000 to 30,000 test records to create a Response (discrete) model, and 2,000 to 3,000 test records to create a Performance (continuous) model. If you are accustomed to using more records you may do so. You also can use additional records to automatically validate a model. Once a model has been created, you can use it to score as many records as you like.
Similarly, the number of records necessary for clustering or profiling is not large either. Typically, these types of projects use far less records than what is available in total. In fact, it is quite common to work with only a few thousand records.
ModelMAX® provides a variety of reports and information that can be viewed on screen, printed, or exported to a spreadsheet package. Reports for predictive projects vary, from revealing which factors were important to the model, to detailing how a model performs on test or independent validation data. ModelMAX® even recommends a cut-off at the point of diminishing returns. Descriptive models generate a different series of reports that emphasize data visualization. For example, perception maps depict the spatial relationship between like-groups or the subsets of data being analyzed. Reports include a Gains Table, Lift Chart, Distribution, Variable Selection, Variable Analysis and Segment Comparison, Full File Scoring, and more.
ModelMAX® was designed for business users, so it is highly automated and does not require any special skills. As long as you are familiar with the data you will be using and you know what you want to accomplish, you can use ModelMAX®.
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