Data mining: The Art of Making Raw Data Useful
Data mining is the process of analyzing large chunks of data and turning it into useful information or knowledge which can be used by a company in various ways such as generating more revenue, lowering the expenditure and making important predictions. Big data is a word that has been enjoying an ever surging hype for a year or so and is already being turned into staggering reality. It involves unimaginably large data sets which are so complex that it is impossible to process it using traditional data processing applications. Over 2.5 quintillion bytes of data is created everyday all over the world which includes online transaction records, pictures and videos from various websites, social media posts, climate information etc. Although the term Big Data refers to the amount of usable information this data contains.
The most common term being associated with Big Data is Hadoop. Apache Hadoop is an open source software framework, used for storing and distributed processing of large data sets from clusters of computers, by using simple programming models. Almost 80% of Big Data is unstructured and it is tough to make important predictions from it. Hadoop structures Big Data so that it is suitable for data mining and analysis. Hadoop is the preferred software for most of the companies providing data mining services in Delhi. Major organizations like Yahoo! And Facebook have created Hadoop applications.
The Yahoo! Search Webmap is world’s largest Hadoop production application while Facebook has the largest cluster of Hadoop which is more than a 100 Petabytes.
Major benefits of data mining are that it gives a company a clear idea on how to work on the 4Ps of marketing that are product, place, price and promotion, customer feedback and a company’s position in a competition. Data management companies in India conducts data mining using a standard set of procedures. The procedure usually includes five steps which are extracting and loading the data in warehouse systems, storing the data in a database system, assigning analysts from information technology sector the task of analyzing the data by providing them access to it, or analyzing the data using various software like Hadoop mentioned above and finally extracting useful information from all of it.
Data mining is also used by different type of organizations to make predictions. For example the fire brigade departments, anti-terrorism cells, healthcare providers, insurance companies, sports teams of NBA, NFL, and many more.