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What Is Data Mining ?
Written by: Nilesh ShahArticle Overview: Data Mining is the art of exploring new, useful, and profitable relationships in data.
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What Is Data Mining ?
In every retail business, we study what happens in order to improve. We study our prospective customers. We study our actual customers. We study what we do and how we do it. We study whether our sales people are competent enough to bring the sales forecasted.
Primary objective is to figure out behavior pattern — forecast outcomes — and turn these into profitable opportunities.
The past study of such patterns was severely limited by the amount of human effort involved, and by the expense of gathering the necessary data to do the relevant exercise.
But, in the last few years, the balance has changed. More data is readily available to most businesses than ever before. More computing power is available to process that data, and automated techniques that can be used to find patterns in that data with limited human intervention. The entire process have become more matured.
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Article Tags: behavior pattern, computing power, exercise, forecast outcomes, human effort, human intervention, mdash, necessary data, objective, profitable opportunities, prospective customers, retail business
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Returns
- Those are fairly accurate expectations. Part of the reason is high failure rate in early stage ventures. With VCs, they pool investments, so the overall return of their portfolio will be affected by some failures.
You are also competing for money with other early stage deals. Mining is all the rage and usually has relatively quick exits.
Not understanding what the investor expects is one of the reasons that early stage people have difficulty raising money. The other is not having a clear strategy for the next round or exit for the investor.
Re: Does Your Website Have a Robots.txt File?
- HI Carol,
Your robot file is correct; no lets work on your Page Titles & Meta Data.
Do you have access to create different page titles for each page of your website? Do you have your FTP information...please do not post it here but just let me know if you have access.
Jeff
Re: What I Enjoyed Reading This Week - June 11
- Hi Evan,
Thank you for the reading material. I look forward to the general release later this month as outlined in the 'Google Analytics To Add Search Query Data From Webmaster Tools' article.
Anything that helps us to understand maximise extra data from Google Analytics can only be of benefit.
regards,
Mal.
I want to start a CARTRIDGE business Need help
- Hi,
I am 20 years old, and looking to open up a cartridges business. I would like to know the markup on say.. HP Canon, Brother and other cartridges. It seems that Staples, office depot and other big companies sell them at regular retial price, I have come accross several websites, that sell them for reasonable prices. I am in contact with Tech Data (probably will open an account) I just want to know the general markup on cartridges? Thanks
Re: Make Friends...Literally BUILD them!
- [quote="GT Bulmer":s3cwnjgv]Data from Star Trek (TNG)! Now, [u:s3cwnjgv]that[/u:s3cwnjgv] would be TRULY awesome![/quote:s3cwnjgv]
Hi GT,
While creating more sophisticated artificial intelligence is a cool idea... I think it would do more harm than good. For starters, people are already becoming lazy enough (and having robots serve people would only lead to an even more sedentary lifestyle), while others won't develop the necessary social skills to function properly in society. For instance, if you're a quiet person, you may choose to befriend a robot instead of another human being.
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