Affiliations: Information Systems Department, University of Maryland
Baltimore County, Catonsville, Maryland 21228, USA
Note: [] Corresponding author: G.A. Forgionne, Information Systems Department, University of Maryland Baltimore
County, Catonsville, Maryland 21228, USA, Tel.: +1 410 455 3943, Fax: +1 410
455 1073, E-mail: Forgionn@UMBC7.UMBC.EDU
Abstract: Data warehousing and data mining are important tools for creating
information that is relevant for decision making. Still, much
additional post data mining analysis is needed to provide complete decision
making support. Econometric models offer additional tools that can
transform data mining information into knowledge for effective decision
making. This manuscript discusses the role of data mining in
decision support, outlines the shortcomings of the approach, and examines how
these shortcomings can be reduced through econometrics. The concepts
are illustrated with an application at the U.S. Department of
Defense. Implications for decision support are then discussed