Students from the University of Duisburg-Essen and Amikabir University of Technology competed against participants from 64 other universities in 22 countries and achieved the two top positions in the DATA-MINING-CUP 2012 – the world’s largest data mining competition. A total of 83 teams tested their data mining expertise using two problems relating to dynamic price optimisation. The prize-winners were announced at the prudsys User Days 2012, which took place in Berlin on 26-27 June.
„Hot prizes“ was the motto for this year’s DATA-MINING-CUP competition, which focused this time completely on dynamic price optimisation. The DATA-MINING-CUP has taken place every year for 13 years and numerous international universities take part; it always focuses on an innovative data analysis issue.
Two tasks all about the ideal price of a product
prudsys AG, as the organiser of this globally renowned data mining student competition and itself also an innovator and specialist when it comes to intelligent data analysis, challenged the participants this year to measure their data mining expertise using two separate tasks on the issue of dynamic price optimisation.
The data mining task was for participants to develop a model using stipulated data that predicted the sales figures of a product as accurately as possible.
The second task was to independently implement an agent that takes on pricing for an online shop. The agents – and therefore the participants‘ individual shops – then competed against each other in a multiple agent system simulation. The aim was to maximise profit.
The two tasks were assessed separately from each other so one winning team could be awarded for each task.
During the prudsys user days, which took place at the NH Hotel Berlin on 26-27 June 2012, the company announced who were some of the world’s best up-and-coming data miners in this year’s DMC competition and who can therefore expect the relevant prize money or prizes.
The winner is …
Team I from the University of Duisburg-Essen won the top prize in the first task, and therefore EUR2000. Students at the Technische Hochschule Mittelhessen (Team I) and Karlsruher Institut für Technologie (Team II) came in second and third. With the University of California San Diego (USA) and the Siberian State Aerospace University (Russia) two international universities made it into the top ten.
The team placement for the second task was equally international. First and second places both went to students from Amikabir University of Technology (Iran). The top ten included students from Brigham Young University (USA), the University of Indonesia (Indonesia) and Vienna University (Austria). The top 10 best teams for the second task also included German teams from Hochschule Reutlingen, Hochschule Anhalt and the Karlsruher Institut für Technologie.
You can find more information on the now completed DATA-MINING-CUP 2012 and the DATA-MINING-CUP 2013 at: http://www.data-mining-cup.com
prudsys AG as one of the technology leader for intelligent data analytics concentrates among classic Data Mining on the development and integration of high-quality real-time analytics solutions.
The prudsys Realtime Decisioning Engine (prudsys RDE) is a leading service-oriented solution for real-time analytics, forecasts and intelligent recommendations. The modular structure enables to build a multi-channel global solution which matches the specific requirements. With IREUS the prudsys AG especially offers for small and medium online shops selected features of the prudsys RDE as a software as a services.
The prudsys products are used world-wide. In Germany alone, approximately 50% of the top twenty mail order businesses such as OTTO, Heine, Conrad Electronic, bonprix and Baur and countless other Top 100 mail-order specialists (Source: Versandhausberater – Mail-Order Adviser) such as 3 Pagen/3 Suisse, buch.de and Mexx rely on prudsys solutions.
prudsys AG is the holder of numerous German and international patents. Furthermore, prudsys AG is the organiser of the world’s biggest data mining competition, the DATA MINING CUP.
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