subject: Data Mining [print this page] Nowadays, there are various applications that are used to process data and to collect and to store them in a proper pattern and data mining is one of its new technological ways!
Data mining is often referred to as a collection of data. The term data mining means to convert the bulk of information or data into summarized form or arranging it in a proper manner from multiple outsourced platforms into a single platform.
Data mining is basically a new term in the technological market but the technology is still the same. For past several decades, small as well as large sized organization have used several powerful computers and software to scan the financial markets, data and analyze their reports and have been quite effective but at the cost of their storage spaces as well as the processing power.
After all that, question often arises in everyones mind that what can a data mining do? Well, data mining is basically used by companies that are strongly focused on the consumers, i.e. financial, retail, communication and several marketing organizations. It enables the companies to define relationships among internal factors such as product positioning, price, or the skills of the companys staff while external factors include economic indicators and customer demographics etc. and it helps them to have a significant impact on sales, profits and customer satisfaction. Along with all that it helps them to drill down summarized information which enables them to view complete details of transactional data.
With the help of data mining a retailer can observe the records of customer purchase and therefore he may know what is the best selling item is in his store and which thing is required more and which thing less as compared to the sales records.
Data mining basically consist of a five major elements that are,
Use to extract, load and transform data into the data warehouse system.
It can manage and store the data in a multidimensional database system.
It provides the facility of accessing the data to business analyst and I.T professionals.
Can determine the information by application software.
Can be used to present the data in different formats such as in the form of tables or graphs etc.
After discussing about data, data miners applications, functions and the elements of data mining, it is very important to know what kind of technological infrastructure is required for its implementation? Nowadays data mining software / applications are available on every system of Client/server, Mainframe and Personal Computer platforms. The price of these systems ranges from few thousand dollars and up to 1 million dollars but all these applications vary in sizes, complexity and functions. Applications which are Enterprise-wide generally range in sizes from 10 Gigabyte to over 10 terabytes! Now the choice is completely yours with which technology you want to go with, as it is dependent on your requirements.
Data minerz is an organization that is used to perform the tasks related to data mining efficiently and effectively and at a very low cost. For further details about data mining or data minerz just log on to www.dataminer.com and surely all your queries will be properly responded.
