Data mining can be defined as a process of analyzing data from different perspectives, different dimensions or angles, categorizing it and summarizing the relationships identified into useful information by use of data mining software. The software helps to find the correlation…
What differentiates KXEN from other vendors is text analytics, sentiment analysis, social network analysis, time-series analysis, support for respectable range of statistical algorithms and support for a wide range of model quality metrics and variable selection techniques.
Management Intelligenter Technologies GmbH : its main product is Data Engine which is an Interface to Lab View and Bridge View. Data engine software deals with fuzzy rules, fuzzy clustering, neural networks and fuzzy neural systems are offered in combination with mathematics, statistics and signal processing.
With a wide use of computers in the industrial field, a lot of data related to industrial processes is being generated every day. In respect to this bulky data there is an urgent need for developing new mathematical methods related to modeling, optimization, decision, and scheduling that fully exploit the data. Data mining software has greatly come in handy to help engineers in the industries solve this problem through current mathematical fundamentals and algorithms of data ...
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Therefore it is scientific that a true data mining software application or technique must be able to change data presentation criterion and also discover the previously unknown relationships amongst the data types. Data mining tools allow for possible prediction of the future trends and behaviors, hence enabling for formation of proactive, knowledge-driven decisions.
This is realized through predictive analysis data mining, which offers the users, impactful insights throughout the organization (Greene, 2012). Predictive analytics is where statistics and mathematics integrate to business and marketing to establish patterns in data and extrapolating the patterns to future business cases and issues, so as to reduce costs, improve response rates, increase the efficiency of processes and consequently boost revenue levels.
The major organizational element, in this case, is the customers. The predictive scores inform the business about the most probable action by the customer. The production of predictive scores occurs when the subject organization design a predictive model.
One such area where data plays a key role is auditing. Auditing is a crucial role carried out by all companies as a test of their own procedures and products. To assist auditors, companies deploy massive databases to capture all relevant data from all departments; this can be used by auditors to assess the company's internal control.
The first is Discovery, or the practice of examining data without a pre-determined hypothesis, in order to discover patterns in it. The discovery stage may occur by classification of data on the basis of clusters, association rules among sets of data, sequential
In discovery driven method, the data is scoured to identify patterns and hidden information. Future values of unknown variables are ‘guessed’ using the predictive modelling technique. However, the forensic method focuses on extracting unusual elements
The heart of customer relationship management (CRM) and personalized marketing programs is data-mining. Spikes can understand the customer’s behavior and preferences by using CRM technologies such as database
Recently, it has been revealed that the government has also been using an advance form of data mining where they are able to get the complete information about any individual. This means that government has
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