Embargoed until 4 May 2004
A new method for calculating vital data missing from lifestyle databases is tipped to revolutionise database marketing. The method is based on the k nearest neighbours approach and is available exclusively in the software solution MOC proMISS. Because it uses k nearest neighbours MOC proMISS is faster and more accurate than current methodologies and heralds a new era in data-driven marketing.
MOC proMISS has been in development for four years by PhD statistician Dr Atai Winkler and software developer, Alan Thorburn. It is being launched as one of the suite of database marketing solutions offered by McCarthy O’Connor.
MOC proMISS, the most accurate and effective solution for imputing missing values on lifestyle databases, is superior to current methods for many reasons. It is easy to use, requires minimum user-intervention and is very amenable for use on very large databases. Further, unlike its lesser rivals MOC proMISS:
· Imputes all the missing values in one run
· Allows all combinations of continuous, ordinal and text variables
· Does not require the development of a predictive model for each field
· Maintains the heterogeneity of the database
Furthermore, the size of the database, i.e. the number of fields and the number of records, does not affect the search and imputation methods.
Paul McCarthy, Managing Director of McCarthy O’Connor, distributor of MOC proMISS says, “There are few genuine breakthroughs in marketing. When it comes to missing values, if they are calculated at all, statisticians rely on wholly inadequate methodologies. Those organisations that apply K Nearest Neighbours will get a real competitive advantage as they will be able to create better targeted campaigns that generate higher than ever response rates.”
Dr Atai Winkler, originator and developer of MOC proMISS adds, “This is without doubt the most accurate and efficient method for imputing missing values. With it organisations will be able to replace the missing values in customer databases with very good estimates of the true values and so be able to consider in detail those features that characterise people as individuals.”
MOC proMISS launches on 4 May 2004. For more information visit www.mccarthyoconnor.com.
Notes to Editors
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About McCarthy O’Connor
McCarthy O’Connor was set up in 1991 by Jackie O'Connor, previously from a media planning and buying background and Paul McCarthy whose background is publishing and press.
Initial services offered were list broking and list management mostly in the IT sector; for clients such as Dell, IBM and 'volume' software mailers from the USA. This was later extended to IT publishing with the UK launch of Ziff-Davis (later acquired by VNU) and Dennis Publishing.
McCarthy O’Connor soon established itself as a leader in subscription marketing. In parallel McCarthy O’Connor developed clients in the B2B and consumer markets. As the sophistication of the market increased McCarthy O’Connor added data processing and hosting.
McCarthy O’Connor has evolved into a marketing services company revolving around data driven customer acquisition and retention strategies; with analytics to complete the 'data' offering to clients and their agencies.
About Atlantec Software
Atlantec Software is a leading developer and supplier of advanced business-oriented statistical software in the areas of database analysis, and retail demand forecasting and analysis. Formed in 2002 and wholly owned by its founder directors, it combines the distinct but complementary skills of advanced statistical modelling, and software design and development.
The philosophy of Atlantec Software is to design and develop software that uses advanced statistical modelling techniques, many of them proprietary, to solve current real business problems that are not addressed satisfactorily by existing software. Our software products are based on many years experience working in the areas of statistical modelling and software development, and they represent radically new solutions to these problems. This means that Atlantec's software works quickly and efficiently to supply the information that users need for their businesses.
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