Data mining, a process that involves the extraction of predictive information which is hidden from very large databases (Vijayarani & Nithya,2011;Nirkhi,2010) is a very powerful and yet new technology having a great potential in helping companies to focus on the most important data in their data warehouses. The use of data mining techniques allows for the prediction of trends as well as behaviors thereby allowing various businesses to make proactive and yet highly informed knowledge-driven decisions. Data mining can therefore help businesses in answering various business questions that in the past have been considered too time consuming to analyze and solve. Companies can therefore collect as well as refine large quantities of data in order to gain a competitive advantage from the hidden predictive patterns contained within. In this paper we determine benefits of data mining to the businesses when employing:
Predictive analytics to understand the behavior of customers
Associations discovery in products sold to customers
3. Web mining to discover business intelligence from Web customers
4. Clustering to find related customer information
The paper also assesses the reliability of the data mining algorithms and then decides if they can be trusted and then predict the errors they are likely to produce. An analysis of the privacy concerns raised by the collection of personal data for mining purposes is also conducted.
Benefits of data mining to the businesses
The benefits of data mining to businesses are numerous. The high level of competition in the global marketplace has forced companies to seek out various competitive advantages aimed at reducing or eliminating inefficiencies, maximizing relationships with all the relevant stakeholders as well as optimizing internal operations. In order to help in this endeavor, companies are involved in the development as well as deployment of effective data mining technologies aimed at leveraging the data resources in order to enhance their decision making capabilities as noted by Nemati and Barko (2003).data...
Data Mining in Health Care Data mining has been used both intensively and extensively in many organizations.in the healthcare industry data mining is increasingly becoming popular if not essential. Data mining applications are beneficial to all parties that are involved in the healthcare industry including care providers, HealthCare organizations, patients, insurers and researchers (Kirby, Flick,.&Kerstingt, 2010). Benefits of using data mining in health care Care providers can make use of data analysis in
Data Warehouse and Business Intelligence In order to write a paper on the similarities and contrast between data warehouse and business intelligence, we need to first define each term before finding the similarities and contrasts between the two. Data Warehouses Data warehouse are used for storing data for archival, analysis, and security purposes. The warehouses themselves are made up of one or many computers (i.e. servers) that are connected together into one giant
Difference between Data Mining and Data AnalyticsData mining and data analytics are often used interchangeably in the health and nursing fields, but they actually represent distinct processes with unique goals and methodologies. It is helpful to know the differences between the two can because understanding how they work and what they are used for can improve the implementation of data-driven decision-making in healthcare.Data mining is the process of discovering patterns
Data Warehousing: A Strategic Weapon of an Organization. Within Chapter One, an introduction to the study will be provided. Initially, the overall aims of the research proposal will be discussed. This will be followed by a presentation of the overall objectives of the study will be delineated. After this, the significance of the research will be discussed, including a justification and rationale for the investigation. The aims of the study are to
Since poor data quality within a system often results in poor business decisions being made from this data, it is very important that each administrator or system architect look at each customer or end-user differently, in their own unique light. Since each end-user is different, and the needs of the customer often stem from the warehouse's ability to accurately store quality information, a system that dates back to the 1970's
Mining The process of extracting new information from existing information through the use of computer system is called Text Mining. Text mining retrieves data of available information and establishes the connection between the facts mentioned in that data. This is how, new information is developed. Since it is newly formed information, its validation is conducted through experimentation. The process of web search is often confused with that of text mining,
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