What
is data mining? And why it is so much importance in business? These are simple
yet complicated questions to be answered, below is brief information to help understanding
data and web mining services.
Socrates Vasiliades tax says mining of data in
general terms can be elaborated as retrieving useful information or knowledge
for further process of analyzing from various perspectives and summarizing in
valuable information to be used for increasing revenue, cut cost, to gather
competitive information on business or product. And data abstraction finds a
great importance in business world as it help business to harness the power of
accurate information thus providing competitive edge in business. May business
firms and companies have their own warehouse to help them collect, organize and
mine information such as transactional data, purchase data etc.
Socrates Vasiliades tax says warehouse at premises
is not affordable and not very cost effective to solution for reliable
information solutions. But as if taking out of information is the need for
every business now days. Many companies are providing accurate and effective
data and web data mining solutions at reasonable price.
Outsourcing
information abstraction services are offered at affordable rates and it is
available for wide range of data mine solutions:
•
taking out business data
•
service to gather data sets
•
digging information of datasets
•
Website data mining
•
stock market information
•
Statistical information
•
Information classification
•
Information regression
•
Structured data analysis
•
Online mining of data to gather product details
•
to gather prices
•
to gather product specifications
Outsource
web mining solutions and data gathering solutions has been effective in terms
of cost cutting, increasing productivity at affordable rates. Benefits of data
mining services include:
•
clear customer, service or product understanding
•
less or minimal marketing cost
•
exact information on sales, transactions
•
detection of beneficial patterns
•
minimizing risk and increased ROI
•
new market detection
•
Understanding clear business problems and goals
