Data Minning
In today's business world, information about the customer is a necessity for a businesses trying to maximize its profits. A new, and important, tool in gaining this knowledge is Data Mining. Data Mining is a set of automated procedures used to find previously unknown patterns and relationships in data. These patterns and relationships, once extracted, can be used to make valid predictions about the behavior of the customer. Data Mining is generally used for four main tasks: (1) to improve the process of making new customers and retaining customers; (2) to reduce fraud; (3) to identify internal wastefulness and deal with that wastefulness in operations, and (4) to chart unexplored areas of the internet (Cavoukian). The fulfillment of these tasks can be enhanced if appropriate data has been collected and if that data is stored in a data warehouse. According to Stanford University, "A Data Warehouse is a repository of integrated information, available for queries and analysis. Data and information are extracted from heterogeneous sources as they are generated....This makes it much easier and more efficient to run queries over data that originally came from different sources." When data about an organization's practices is eas
Data Mining Technologies Inc. Nuggets? Nuggets uses proprietary search algorithms called SiftAgents(TM) to develop English "if - then" rules. These algorithms use genetic methods and learning techniques to "intelligently" search for valid hypotheses that become rules. In the act of searching, the algorithms "learn" about the training data as they proceed. The result is a very fast and efficient search strategy that does not preclude any potential rule from being found. The new and proprietary aspects include the way in which hypotheses are created and the searching methods. The user sets the criteria for valid rules. Nuggets also provides a suite of tools to use the rules for prediction of new data, under-standing, classifying and segmenting data. The user can also query the rules or the data to perform special studies. http://www.data-mine.com/ · Predicting audience share for television programs "The most successful telecommunications companies will, of course, be the ones who can develop and market products and services that customers will buy," says Julian Kulkarni, SAS institute Europe's Product Marketing Coordinator for telecommunications. "But high customer churn rates in telcom markets show that you cannot depend on customer loyalty. To thrive, companies must know their customers, their products, their own operations, and the competition better."
Some common words found in the essay are:
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Approximate Word count = 1674
Approximate Pages = 7 (250 words per page double spaced)
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