What Is Data Mining Services?
Knowledge discovery in databases (KDD) is an emerging field and is increasingly gaining Importance in today's business
. The knowledge discovery process, however, is fixed, involving understanding of the business and its requirements, data selection, processing, mining and evaluation or interpretation, it does not have any pre-defined set of rules to go about solving a problem. Among the other courses, the data mining process holds high Importance as the task involves identification of new patterns That Have not detected EARLIER leg from the dataset. Relatively This is a broad concept involving web mining, text mining, online mining etc.
What Data Mining is and what it is not?
The data mining is the process of extracting information, Which Has Been Collected, Analyzed and prepared, from the dataset and Identifying new patterns from That information. At this Juncture, Also it is important to understand what it is not. The concept is Often misunderstood for knowledge gathering, processing, analysis and interpretation / inference derivation. While thesis processes are absolutely not data mining, They Are Necessary very much for its successful implementation.
The 'First-mover Advantage
One of the major goals of the data mining process is to identify an unknown or rather Unexplored That segment had always Existed in the business or industry, but was over looked. The process, when done meticulously Using Appropriate techniques, could even make way for niche segments companies Providing the first-mover advantage. In any industry, the first-mover would bag the maximum benefits and exploit resources besides setting standards for other players to follow.
The online knowledge collection and research is the concept and Complications involving many, powerful Therefore, outsourcing the data mining services Often proves viable for large Companies That can not devote time for the task. Outsourcing the web services mining or text mining services would save an organization's productive time All which would otherwise be spent in researching.
The data mining algorithms and challenges
Every task follows' certain data mining algorithms Using statistical methods, cluster analysis or decision tree techniques. However, there is no single universally accepted That technique can be adopted for all. Rather, the process Completely depends on the nature of the business, industry and its requirements. Gala thus, Appropriate methods have to be Chosen Depending upon the business operations.
The whole process is a subset of knowledge discovery process and as Such involves different challenges. Analysis and preparation of data set is very Crucial as the well-researched material Could assist in extracting only the relevant information useful for the yet unidentified business. Hence, the analysis of the Gathered material and preparation or dataset, Which Also considers industrial standards consistently the process, would consume more time and labor. Investment is another major challenge in the process as it involves huge cost on deploying professionals with adequate domain knowledge plus knowledge on statistical and Technological aspects.
The Importance of Maintaining a comprehensive database Prompted the need for data mining Which, in turn, paved way for niche concepts. Though the concept has legs present for years now, companies faced with ever growing competition have only Realized its Importance in the recent years. Besides being relevant, the dataset from where the information is actually extracted Also has to be sufficient is enough so as to pull out and identify a new dimension. Yet, a standardized approach would result in better understanding and Implementation of the newly Identified patterns.
by: Roze Tailer
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