Data Mining is the process of utilizing the results of information exploration to adjust or enhance business strategies. It builds on the patterns, trends, and exceptions found through information exploration to support the business. It is also known as information harvesting.
Data extraction is also a technique using software tools geared for the user who typically does not know exactly what he's searching for, but is looking for particular patterns or trends. Data mining is the process of sifting through large amounts of data to produce data content relationships. This is also known as pattern surfing.
In a large data warehouse implemented by a business organization, it may be very difficult to retrieve relevant information from among the high volume of information coming from a variety of disparate data sources. Data mining can help a data consumer within the organization in sorting through the high volume of data and use this data in conjunction with the company's business intelligence system in order to spot trends and patterns to be used in decision making.
Software application solution for data extraction allows data consumers to analyze data from many dimensions, perspectives and angles. These software applications categorize data and summarize all identified relationships. From a technical view, data mining is the process of spotting patterns and correlations among the hundreds of fields in large relational databases. Today's data mining applications try to leverage the processing power and disk storage capacity of computers as well as the high end network infrastructures.
Data can help all kinds of business organizations determine strong and weak points in their business operation so they can formulate strategic ways to gain a competitive edge against their competitors.
Data mining software is one of the tools that are used in helping a business assess and analyze the harvested data in effective and efficient terms. It is quite user friendly and also allows people to into the harvested data from different points and angles of view. Generally, a data mining application will allow one to see the patterns and correlations in the harvested data in comparison to the others in other regional databases.
Data mining has made it possible to store data in data warehouses. The information is then made accessible in the data warehouses. Companies are free to use it to reduce their risk taking and also integrate the proper selling techniques in improving a business.
For example, a grocery is using a data mining software application so it can analyze buying patterns in a certain locality. The d grocery discovers that when men buy baby diapers on Monday and Sunday, they also buy beer. The data extraction software analysis tool also reveals the usual day men do their weekly grocery on a Sunday.
The grocery could then formulate selling strategy to optimize their sales bases on the shopping pattern of this particular market. One strategy would be to move similar products that go with beer (for instance, food items that go well with beer) and diapers and make sure that both beer and diaper are sold at full price on Mondays. Without the use of data mining and some analysis tool, the grocery would have no idea the relationship between beer and diaper!
Data extraction is also a technique using software tools geared for the user who typically does not know exactly what he's searching for, but is looking for particular patterns or trends. Data mining is the process of sifting through large amounts of data to produce data content relationships. This is also known as pattern surfing.
In a large data warehouse implemented by a business organization, it may be very difficult to retrieve relevant information from among the high volume of information coming from a variety of disparate data sources. Data mining can help a data consumer within the organization in sorting through the high volume of data and use this data in conjunction with the company's business intelligence system in order to spot trends and patterns to be used in decision making.
Software application solution for data extraction allows data consumers to analyze data from many dimensions, perspectives and angles. These software applications categorize data and summarize all identified relationships. From a technical view, data mining is the process of spotting patterns and correlations among the hundreds of fields in large relational databases. Today's data mining applications try to leverage the processing power and disk storage capacity of computers as well as the high end network infrastructures.
Data can help all kinds of business organizations determine strong and weak points in their business operation so they can formulate strategic ways to gain a competitive edge against their competitors.
Data mining software is one of the tools that are used in helping a business assess and analyze the harvested data in effective and efficient terms. It is quite user friendly and also allows people to into the harvested data from different points and angles of view. Generally, a data mining application will allow one to see the patterns and correlations in the harvested data in comparison to the others in other regional databases.
Data mining has made it possible to store data in data warehouses. The information is then made accessible in the data warehouses. Companies are free to use it to reduce their risk taking and also integrate the proper selling techniques in improving a business.
For example, a grocery is using a data mining software application so it can analyze buying patterns in a certain locality. The d grocery discovers that when men buy baby diapers on Monday and Sunday, they also buy beer. The data extraction software analysis tool also reveals the usual day men do their weekly grocery on a Sunday.
The grocery could then formulate selling strategy to optimize their sales bases on the shopping pattern of this particular market. One strategy would be to move similar products that go with beer (for instance, food items that go well with beer) and diapers and make sure that both beer and diaper are sold at full price on Mondays. Without the use of data mining and some analysis tool, the grocery would have no idea the relationship between beer and diaper!
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