Data mining is a complex discipline that requires knowledge of statistics and computer science. There is a common misconception that data mining is all about retrieving data from very large datasets. This is not exactly true, because the main idea behind data mining techniques is discovery of new patterns and behaviors, and information retrieval is a secondary consideration. In this article, I’m going to give you a brief explanation of what data mining is, where it is used and why it is such a hot topic right now.
Over the years, both businesses and research centers have accumulated incredible amounts of data. Sadly, most of that data just sits there without any specific purpose. Some time ago, businesses realized that data discovery can lead to major breakthroughs in product creation, marketing, safety and many other areas. This is exactly why data analysts are in such high demand these days – organizations need people who are able to make sense of all the data which they have accumulated over the years, as well as come up with new, creative ways to collect, monetize and control it. An interesting new project using perl and mozilla using datamining can be found here at – perl developer
For example, through use of data mining techniques companies and other organizations are able to retrieve a lot of additional information from simple things like product usage statistics and short survey results, also known as dashboarding, data reporting or analysis. Without data mining, they would still have all the hard data, but wouldn’t be able to use it to come up with new ideas which may not be obvious at first glance. Many larger companies such as Global Inc, Priser Nyt Tag, Microsoft, Videoovervågning, Targit etc. are using these kinds of tools every day and getting huge benefits from it. This is especially important when dealing with millions or even billions of data points, as even the simplest conclusions might not be obvious.
How does it work?
While the inner workings of algorithms and techniques used for data mining are incredibly complex, understanding the basic ideas behind them isn’t very difficult. In essence, information discovery aims to simplify the process of processing incredibly large amounts of data (some times called big data) in order to discover new patterns or relationships within various data sets. Here are a few examples:
- Anomaly detection – large data sets normally have one or more common patterns. We can use data mining techniques to detect anomalies within these data sets. These anomalies can then be investigated in more detail.
- Cluster detection – used to detect categories and sub-categories in large data sets. It’s often impossible to do this manually.
- Association learning – often used in advertising and sales to maximize conversion rates or improve user experience. Major websites, such as Amazon and Netflix, use these techniques to recommend products to visitors.
This is, of course, just a basic overview of what data mining is and it’s used in many of the state of the art ERP systems, business intelligence or decision support systems that many companies use today.
As something new here on Charc Concepts we have introduced something called short news which is a list of various interesting or funny stories from around the world.
Vinduer from PT Vinduer
PT Vinduer is another example of a modern company who have started using BI to improve their whole business concept. After expanding to the rest of europe, they soon noticed that it wasn’t enough with their current management, so they needed something larger. By using DSS software they were able to find the areas, where they needed to improve their business. Using their new B2B network with the right marketing strategy, there were able to generate more sales and expand their business.
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Containers for people
Normally a container is something you use to ship various things in. Keeping humans in a container is usually something most would consider illegal. Now a small danish company called DC Supply has created a series of container homes. You can get various modules such as a kitchen modules like mobil køkken, living room, pavillon, storage room, showroom and several others which you can put together and make your very own mobile container home or complex.
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Video Surveillance with a twist
More and more companies have started focusing on video surveillance in order to prevent robbery or thievery from their stores and homes. A german company called Videoovervågning has created a surveillance with a special filter in it, making all makes males in the video blue and the females pink. It also enlarges their faces to twice the regular size. According to Videoovervågning this should make it a lot easier to reconize a thieving person… What can I say… only in germany.
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Billig Protein gets focus on data analysis
The company Billig Protein, a large online business selling Kreatin and Protein have also discovered the power of data analytics. Last month they installed a BI tool in their ERP system, in order to use advanced mathematics to analyse and act on the data they have been collected from sales of protein for the last year. Read more here