What is data mining?
Data mining and analysis is the process of establishing underlying trends
and relationships in complex data in order to then generate knowledge with
which to improve a product or service.
With significant expertise in data
analysis, Execulence can carry out a feasibility study on your data in order
to provide you with an insight into what benefits might be gained and then
assist by developing a knowledge based tool specific to your needs.
How can data mining benefit your business?
Many real world data sets involve a wide variety of
variables, some of which are known to affect a product or process and
others which may not be so obvious. In most cases, particularly in the
areas of medicine, industry or business, these variables can interact
together in complex and non-linear ways making it difficult for more
simplistic analysis techniques to reveal the true underlying relationships
in your data.
Of course, techniques alone do not guarantee the development of successful
knowledge based tools - a significant amount of skill and knowledge
of correct application procedures is also required to provide high quality
information from your data.
Example application areas include a supermarket wanting to
establish the relationship between the sales of bread and other
circumstantial data such as the date, time, weather and other products sold;
or a medical business establishing which blood tests are best to use in
order to establish the presence of certain diseases.
If you've got data about your business and want to get more from it then
give us a call to find out how we can help.