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Knowledge Repository
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09/08/2004 |
Data mining is defined as the extraction of hidden predictive information from large databases. It has been made possible primarily because of the use of computers. It has now evolved to the point where real-time information can be gained. Many companies have exceeded the 50 GB mark in the amount of data collected, and organizations such as large retailers have even more than that. Data mining is used to make sense of this data. |
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09/15/2004 |
Data mining can be used to create models which aid in managment decision making. Data Mining Technologies provides data mining services to the banking and insurance industries. They use data to produce sever different models including: Claims Fraud Models, Customer Clone Models, Response Models, Revenue and Profit Predictive Models, Cross-Sell and Up-Sell Models, Attrition Models, Marketing Effectiveness Creative Models, and Real Time Web Personalization. http://www.data-mine.com/bin/site/content/documents/DMT%20Model%20Types.doc |
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09/22/2004 |
Data mining can even be found in the restaurant industry, an industry I have particular interest in. In fact it was data mining that prompted T.G.I. Friday's to start their "Atkin's Approved" marketing push and related menu. By mining data collect on customer special orders they determined that many customers were trying to eat low-carb. After learning this they negotiated a deal with Atkins Nutritionals and their "Atkin's Approved" menu was born. |
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09/29/2004 |
This essay discusses the use of data mining in time studies to make better forecasting modles for business. Forecasting can be used to determine seasonal trends and allow for better planning in businesses. This paper specifically looks at the fast food industry as an example. |
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10/06/2004 |
Pizza Hut recently changed the program they used to record the data generated when you call in and make an order. This has allowed them to better mine the data saving them in their direct marketing costs. Their original system had problems making the data unreliable. They didn't take into account when people moved or changed telephone numbers. This made it hard to track customers and mine the data to see what direct mail to send out. Their new system eliminates this and for the first time allows them to mine the data to see just what the customers are ordering. They even have been able to save enough to offset the costs of implementing this new system. http://www.findarticles.com/p/articles/mi_m0CGC/is_20_29/ai_109518376 |
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10/13/2004 |
This article discusses 5 diciplines of data as described by the director of the Meta Data Services Group at BellSouth. It discusses their importantance in an organization. The five disciplines of data include:
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10/18/2004 |
This 1999 artiticle touches on the issue of data mining as it relates to the size of the organization. Specifically how an organization views data mining in the future plans of the organization. It found that fewer than 10% of canadian companies with fewer than 100 employees are even considering data mining in the future of their company. Over half of the larger companies also have not embraced data mining. http://www.findarticles.com/p/articles/mi_m0CGC/is_15_25/ai_54413213 |
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10/25/2004 |
This is a web site that seeks to teach the basics of small business. One of the articles they have posted is a basic example that shows the importance of data mining, even in a small business. |
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11/1/2004 |
This article touches on how MicroSoft uses data mining to target customers for upcoming Xbox games. It also touches on a couple non-retail uses of data mining that I had really never considered before. It discusses the mining of data by police and other homeland security agencies to help catch criminals and terrorists. This helps drive home the value of data mining. It also speaks to the importance of using your data well. You can have a data warehouse, but if you don't have the tools to extract meaningful information from it then it has little value for you. |
