Utility and Significance of Vague Set Theory and Advanced Optimization Mechanisms for Uncertainty Management

Abstract

In this digital world, tremendous data are generated in every field. Useful information is inferred out of this data, which is valuable for effective decision making. Data mining extracts the interesting information from huge volumes of data. Association rule (AR) mining is one of the core areas of data mining where interesting information is extracted in the form of rules. Traditional AR mining is incapable of handling uncertain situations. In order to handle uncertainty, mathematical tools like vague theory can be utilized with AR mining methodologies for the development of novel vague theory based algorithms, which will be more suitable in effectively handling vague situations that helps framing effective selling strategy. Since an organization can't analyze the huge rule set obtained from these algorithms, every resultant rule should have a certain ratio of factors customized to the interest of the organization that can be achieved through optimization algorithms. This chapter explores the significance of vague theory and optimization means for effective uncertainty management.