| What is Data Mining? Well, it can be defined | | | | a crucial process and requires lots of time |
| as the process of getting hidden information | | | | and patience in collecting desired data due |
| from the piles of databases for analysis | | | | to complexity and of the databases. This |
| purposes. Data Mining is also known as | | | | could also be possible that you need to look |
| Knowledge Discovery in Databases (KDD). It is | | | | for help from outsourcing companies. These |
| nothing but extraction of data from large | | | | outsourcing companies are specialized in |
| databases for some specialized work.Data | | | | extracting or mining the data, filtering it |
| Mining is largely used in several | | | | and then keeping them in order for analysis. |
| applications such as understanding consumer | | | | Data Mining has been used in different |
| research marketing, product analysis, demand | | | | context but is being commonly used for |
| and supply analysis, e-commerce, investment | | | | business and organizational needs for |
| trend in stocks & real estates, | | | | analytical purposesUsually data mining |
| telecommunications and so on. Data Mining is | | | | requires lots of manual job such as |
| based on mathematical algorithm and | | | | collecting information, assessing data, using |
| analytical skills to drive the desired | | | | internet to look for more details etc. The |
| results from the huge database | | | | second option is to make software that will |
| collection.Data Mining has great importance | | | | scan the internet to find relevant details |
| in today's highly competitive business | | | | and information. Software option could be the |
| environment. A new concept of Business | | | | best for data mining as this will save |
| Intelligence data mining has evolved now, | | | | tremendous amount of time and labor. Some of |
| which is widely used by leading corporate | | | | the popular data mining software programs |
| houses to stay ahead of their competitors. | | | | available are Connexor Machines, Free Text |
| Business Intelligence (BI) can help in | | | | Software Technologies, Megaputer Text |
| providing latest information and used for | | | | Analyst, SAS Text Miner, LexiQuest, WordStat, |
| competition analysis, market research, | | | | Lextek Profiling Engine.However, this could |
| economical trends, consume behavior, industry | | | | be possible that you won't get appropriate |
| research, geographical information analysis | | | | software which will be suitable for your work |
| and so on. Business Intelligence Data Mining | | | | or finding the suitable programmer would also |
| helps in decision-making.Data Mining | | | | be difficult or they may charge hefty amount |
| applications are widely used in direct | | | | for their services. Even if you are using the |
| marketing, health industry, e-commerce, | | | | best software, you will still need human help |
| customer relationship management (CRM), FMCG | | | | in completion of projects. In that case, |
| industry, telecommunication industry and | | | | outsourcing data mining job will be |
| financial sector. Data mining is available in | | | | advisable.Scott Naxton is a freelance |
| various forms like text mining, web mining, | | | | journalist having experience of many years |
| audio & video data mining, pictorial data | | | | writing articles and news releases on |
| mining, relational databases, and social | | | | businesses like outsourcing, internet |
| networks data mining.Data mining, however, is | | | | marketing, health and insurance. |