subject: Web Data Mining In Business [print this page] Every person knows the importance of data in the business world. This is so because information is mandatory for the growth of your niche. It is also possible that a business will have excess information that it is actually required. Web data mining is a golden technique that is used to harvest huge volumes of data for predictive analysis and decision making. Web data mining can be used in the development of an effective and powerful marketing campaign that will ensure you have clients at your disposal and converting them into profit.
One of the best ways to convert information is by data mining. It is the process of using the data that already exists and the demographics to highlight the predictions, trends and even marketing campaigns. Many businesses have been engaged in this process for a number of years. They have used web data mining to analyze their clients based on the industry, business type and even the occupations engaged. With this technique and information at their disposal, they have been able to spot trends and even marketing campaigns.
Effective web mining means that the marketing department has liberty to access client demographics and even the financial information. At the same time, the accounting department needs to provide figures for services billed and even the accounts credited and debited. Other information that is needed by the accounting department that can be obtained by web mining include discounts given, collected revenue and receivables based on statistics. By use of this technique and closer monitoring of the market performance, it is possible to get a breakthrough by revealing a market segment. This can help your company to shift its market focus into a more profitable niche.
Through web data, mining it is possible to look at clients revenues and even profitability. This can be assessed also by the age factor. When the percentage of new clients is high, it implies that your business has a weakness of retaining the existing customers. In case you realize that you have few clients then you are likely to be in trouble. This means that you need to employ web data mining in order to maintain a balanced client acquisition.
Usually the first step in the web data mining is to acquire every clients information found on given firm. This ensures that every person who is in an office that is in demand of the addresses and names of the firms clients can be obtained from the data warehouses created by the company through web data mining. The data warehouses can also be used to store also information that may not be required by clients. In this way, information can be shared in a company.
When one to create a data warehouse by use of web data mining, it is important to consider the following factors:
Easy usage. The data warehouse should be easier to use. This is so because should it fail to be used it would have been a waste of money and resources.
Accessibility. The data warehouse should be easier to access the data stored. It is possible for this data to be customized and be accessed by use of a number of applications and platforms.
Data sharing. The data harvested should be stored well and made available for sharing by the right people to ease the necessity of communication.
