Posterior distributions for rare events in multivariate categorical data

  • Authors:
  • Douglas H. Jones

  • Affiliations:
  • Management Science and Information Systems, Rutgers Business School-Newark and New Brunswick, Piscataway, NJ

  • Venue:
  • ISP'07 Proceedings of the 6th WSEAS international conference on Information security and privacy
  • Year:
  • 2007

Quantified Score

Hi-index 0.00

Visualization

Abstract

This study proposes a method to estimate the posterior distribution of multidimensional categorical data. This methodology enables Bayesian analysis of rare events by borrowing strength from a large database. Once the posterior distributions are profiled, further analysis can be performed and/or decisions made about importance of the occurrence of a particular rare event. For example, the occurrence of a rare event can signal an unusual or undesirable activity in a supply chain and lead to instability in vendors or suppliers and other chain components, possibly leading to the failure of the entire supply chain. Some supply chains are critical for a stable economy and national security, thus early and efficient detection of disruptions of these supply chains are essential.