Data Analysis: a Roadmap to Better Decision-making: Methods, Techniques and Applications

This book investigates how data and information are transformed into knowledge that supports decision-making processes. The ?information revolution? renders information a common product: it is easily supplied, accumulated, processed and managed. In recent years, the amount of data has been growing exponentially. Traditional methods of data analysis rely primarily on slower, more expensive manual investigation and analysis. These limitations make the traditional methods impractical. This book provides an alternative approach and presents a novel framework to advance data analysis through the knowledge discovery process. This work borrows ideas from related fields, such as Operations Research and Information Theory. Grounded in these disciplines and formal mathematical expressions, this work presents a comprehensive model and corresponding design tools. Last, this book enables a rigorous exploration of data analysis and knowledge discovery tools which provide a roadmap to better decision-making.