Advantages Of Data Mining Services
Posted On Tuesday, June 30, 2009 at at 9:35 PM by web researchData Mining is the process of extracting hidden information from scrapes of databases and that is to be used for further analytic purposes. The process of data mining is known by many names such as Knowledge Discovery, Web Mining and so on. Data mining is not to be confused with regular internet research. In fact, data mining involves close scrutiny of existent information on the Internet and other sources and pulling out chunks of data that is relevant and useful. This requires keen comprehensive skills and analytical abilities.
Use of Data Mining Services
All businesses rely on data some way or the other. While some have data as their underlying procedures, others base their business proceedings on it. Data mining services are of utmost importance in applications like
• Understanding consumer requirements
• Product analysis
• Demand and supply analysis
• E-commerce trends
• Telecommunications etc.
Data mining process are based on both mathematical algorithms as well as strong analytical skills that comprehend information and extract relevant results from large collections of databases.
The importance of data mining processes has soared in the highly competitive business environment of the present times. It has given rise to a new concept called ‘Business Intelligence Data Mining.’ This refers to the process of extracting relevant information from the internet that acts a base on which crucial business decision are formulated. This may include market trends, consumer intelligence, economical trends, industry research, geographical information, competition analysis and so on. Major corporate houses use data mining services to stay ahead of the competition and get an edge in the market.
Industries using Data Mining Services
Data mining applications are used widely across many industries and processes like:
• Health Industry
• E-Commerce industry
• Customer Relationship Management
• FMCG Industry
• Telecommunications Industry
• Financial Services
Forms of Data Mining
Data mining services are available in several forms like text mining, audio mining, video mining, web mining, image mining, relational databases and social networks data mining.
Data mining is a crucial process and it requires time and patience. It involves scraping out relevant pieces of data from huge collections of databases and owing to the complexity of the procedure, data mining activities become very time consuming. However, data mining professionals with considerable experience and expertise of the industry make the tasks easier and process large amounts of data in a considerably short time. There are several offshore outsourcing companies that specialize in extracting data and filtering it and analyzing it accordingly.
Stages of Data Mining
• Data mining involves a series of steps and procedures. They are:
• Collection of information
• Assessment of the collected data
• Internet research to acquire more details of the collected content
• Extracting more information from online resources
• Merging the data obtained from the internet with the existent ones
• Processing the entire accumulated data and extracting useful information out of it
There are also several softwares available that lets you extract information about relevant topics. However, because of their automated nature they are not as precise as manual extraction.
Maneet Puri is the head of LeXolution IT Services, a premier IT outsourcing firm located in India. His firm caters to his clients with efficient services like mailing list development India, Data Mining to name a few.
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