Importance of Data Mining

Importance of Data Mining

Importance of Data Mining

Generally, data mining (sometimes called data or knowledge discovery) is the process of analyzing data from different perspectives and summarizing it into useful information that can be used to increase revenue, cut costs, financial modeling and much more.

Mr. John (Giancarlo) Meazzo, President of GMA3000.COM, the guru of budgeting and financial management has made data mining a priority for clients in various industries. Data mining is the principle of sorting through large amounts of data and picking out relevant information. It is usually used by business intelligence organizations, and financial analysts. Now, applications are used in more industries, including not for profits. There may be other names for such database information management such as Universal Relationship Management.

Data mining is now also used to capture all aspects of organizational transactions. Implementing such a database system, would require charting the flows of data (products, staffing, tasks, etc.); the capturing to the minutest detail of data (best) is planned. The data is entered using systems such as data entry screens or by exporting the data from programs such as Excel, financial and operational software (accounting sytems); data is warehoused and is now available for the preparation of various operational, managerial and executive reports.

Data mining software is one of a number of analytical tools for analyzing data. It allows users to analyze data from many different dimensions or angles, categorize it, and summarize the relationships so identified. Technically, data mining is the process of finding correlations and/or patterns among dozens of fields in large relational databases. It may also include capturing transactional data (what departments generate in goods and services) to merge into the accounting systems. This combined data will give a company a formidable powerhouse of managerial tools to evaluate performance and to plan future performance. GMA has the experience to plan and implement a data management system to perform data mining processes. Call us we can explain how you can benefit from "Data Mining"!!

Website databases are now an important component of organizational data that is merged and managed with other organization internal data. Data mining involves four major classes of task like Clustering, Classification, Regression, & Association rule. Planning the merging of web and internal based data is must in today's demanding and competitive business environment. Database storage management technology is adequate for many application linked to data mining.

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