Online Web Research Services & Data Research, Data mining

What is Data Mining? Well, it can be defined as the process of getting hidden information from the piles of databases for analysis purposes. Data Mining is also known as Knowledge Discovery in Databases (KDD). It is nothing but extraction of data from large databases for some specialized work.

Data Mining is largely used in several applications such as understanding consumer research marketing, product analysis, demand and supply analysis, e-commerce, investment trend in stocks & real estates, telecommunications and so on. Data Mining is based on mathematical algorithm and analytical skills to drive the desired results from the huge database collection.

Data Mining has great importance in today’s highly competitive business environment. A new concept of Business Intelligence data mining has evolved now, which is widely used by leading corporate houses to stay ahead of their competitors. Business Intelligence (BI) can help in providing latest information and used for competition analysis, market research, economical trends, consume behavior, industry research, geographical information analysis and so on. Business Intelligence Data Mining helps in decision-making.

Data Mining applications are widely used in direct marketing, health industry, e-commerce, customer relationship management (CRM), FMCG industry, telecommunication industry and financial sector. Data mining is available in various forms like text mining, web mining, audio & video data mining, pictorial data mining, relational databases, and social networks data mining.

Data mining, however, is a crucial process and requires lots of time and patience in collecting desired data due to complexity and of the databases. This could also be possible that you need to look for help from outsourcing companies. These outsourcing companies are specialized in extracting or mining the data, filtering it and then keeping them in order for analysis. Data Mining has been used in different context but is being commonly used for business and organizational needs for analytical purposes

Usually data mining requires lots of manual job such as collecting information, assessing data, using internet to look for more details etc. The second option is to make software that will scan the internet to find relevant details and information. Software option could be the best for data mining as this will save tremendous amount of time and labor. Some of the popular data mining software programs available are Connexor Machines, Free Text Software Technologies, Megaputer Text Analyst, SAS Text Miner, LexiQuest, WordStat, Lextek Profiling Engine.

However, this could be possible that you won’t get appropriate software which will be suitable for your work or finding the suitable programmer would also be difficult or they may charge hefty amount for their services. Even if you are using the best software, you will still need human help in completion of projects. In that case, outsourcing data mining job will be advisable.

Data mining is the process of using certain algorithms, software and tools to retrieve, collect, analyze and report information (known as predictive analysis) from a huge pool of data. Data mining is extremely useful these days where information is abundantly available. The information obtained by data mining is used for several applications for decision-making relating to direct marketing, e-commerce, customer relationship management, healthcare, oil and gas industry, scientific tests, genetics, telecommunications, financial services and utilities.

Web data mining is the process of automated extraction of data from the World Wide Web. The internet has extensive data about everything that can be used effectively for making intelligent decisions. However, retrieving as well as sifting through such huge databases is an arduous task. Hence, there are certain data mining tools that help to make this easier. The tools can pick out relevant data and interpret it as per requirements.

There are many kinds of Web data mining: standard mining, data verification and custom mining. Web data mining products can perform a very wide range of functions, including: search engine optimization and website promotion, multiple transformations and modular marketing indicators for CRM, web log reporting, tracking visitor patterns of websites, calculating visitor conversion ratios, reporting online customer behavior, analyzing click-throughs, providing real time log analysis of campaign tracking, click paths, geographic pinpointing, keywords by search engine, web visitor analysis reports, content analysis, extract web events like campaign results, web traffic, etc.

There are several commercially available Web data mining and web usage mining software applications available. Some of them are: AlterWind Log Analyzer Professional, Amadea Web Mining, ANGOSS KnowledgeWebMiner, Azure Web Log analyzer, Blue Martini Customer Interaction System's Micro Marketing module, ClickTracks, ConversionTrack from Antssoft, Datanautics, (formerly Accrue), eNuggets, (real-time middleware), LiveStats from DeepMetrix, Megaputer WebAnalyst, MicroStrategy Web Traffic Analysis Module, NetGenesis Web Analytics, NetTracker family, Nihuo Web Log Analyzer, prudsys ECOMMINER, SAS Webhound, SPSS Web Mining for Clementine, WebLog Expert 2.0 for Windows, WebTrends, a suite for Data Mining of web traffic information, XAffinity(TM), XML Miner, 123LogAnalyzer. There are also free versions of web Data Mining software such as: AlterWind Log Analyzer Lite, Analog (from Dr. Stephen Turner), Visitator and WUM (Web Utilization Miner).

Data mining can be technically defined as the automated extraction of hidden information from large databases for predictive analysis. In other words, it is the retrieval of useful information from large masses of data, which is also presented in an analyzed form for specific decision-making.

Data mining requires the use of mathematical algorithms and statistical techniques integrated with software tools. The final product is an easy-to-use software package that can be used even by non-mathematicians to effectively analyze the data they have. Data Mining is used in several applications like market research, consumer behavior, direct marketing, bioinformatics, genetics, text analysis, fraud detection, web site personalization, e-commerce, healthcare, customer relationship management, financial services and telecommunications.

Business intelligence data mining is used in market research, industry research, and for competitor analysis. It has applications in major industries like direct marketing, e-commerce, customer relationship management, healthcare, the oil and gas industry, scientific tests, genetics, telecommunications, financial services and utilities. BI uses various technologies like data mining, scorecarding, data warehouses, text mining, decision support systems, executive information systems, management information systems and geographic information systems for analyzing useful information for business decision making.

Business intelligence is a broader arena of decision-making that uses data mining as one of the tools. In fact, the use of data mining in BI makes the data more relevant in application. There are several kinds of data mining: text mining, web mining, social networks data mining, relational databases, pictorial data mining, audio data mining and video data mining, that are all used in business intelligence applications.

Some data mining tools used in BI are: decision trees, information gain, probability, probability density functions, Gaussians, maximum likelihood estimation, Gaussian Baves classification, cross-validation, neural networks, instance-based learning /case-based/ memory-based/non-parametric, regression algorithms, Bayesian networks, Gaussian mixture models, K-means and hierarchical clustering, Markov models and so on.