Establishing opportunities of data mining
“We are data rich but information poor”
This is what attracted great deal of attention towards the data mining process. Business organizations had large databases and massive amount of crude information left to be translated to their usefulness. But they often had no such tool to do this effectively. Besides whatever they did used to highly time consuming.
Mr.Srinivas Bhogle, Director and India Country Manager of TEOCO Software Pvt. Ltd. once said that, previously we had tools to interpret, but no statistics. Now the situation is vice versa. We have more of stats but less of tools to analyze. Emergence of efficient knowledge discovery (data mining) tools has resolved the point at issue.
Knowledge discovery has eased the collection of crude info and its translation into the one of use and service. The interpretation is of strategic importance as the analysis of database throws light on unacknowledged trends and thereby helps to perceive patterns. This of value and noteworthy process to discover to the point and apropos facts & figures is a powerful new technology for the organization. Put into words by Indian statistical institute the goal of the knowledge discovery is to unearth the correspondence between to conditions. Knowledge mining is supported by three preeminent technologies namely-huge collection of crude facts, powerful multiprocessor computers, and algorithms.
Quality Data mining consultants are taking a rigorous path and can transmute business working within upcoming five to six years. 79% of CEOs of Indian firms are saying that progressive information mining will transform how customers, human resources and operating environment will work.