Computational Cost Reduction Strategies for Business Cases

Feature selection and parameter optimization are vital techniques in the data mining process, significantly impacting the computational costs of machine learning. Computational cost is a critical consideration in business analytics, making feature selection and parameter optimization research crucial for reducing operational costs. This study investigates the performance of 10 dimensionality reduction methods and 2 parameter optimization techniques in various business applications. The evaluation focuses on predictive accuracy and run time. The analysis reveals distinctive tendencies among the filtering methods, highlighting time-consuming behaviors in different business scenarios for Weight by Rule (WRul) and Weight by Relief (Wrel). Additionally, the study proposes a cost-effective approach to parameter optimization by utilizing grid search and evolutionary algorithms, particularly when the optimal parameter range is unknown.