Data Mining for Business Intelligence - Application and Data Mining Concept

Application and Data Mining Concept

Definition of Data mining in BI is a step for developing businesses that created by gathering the data, organize, and save them in the organization. The techniques of data mining is very global and itself get used widely by many companies.

The first component of the data mining is begin with analyzing the total of the data that much more to gathered inside the company. 

So why nowadays data mining becomes core of concern, here is the analysis :

1. competition in the global world is going more intense so that companies get pushed by the needs of the customers that always change in the market

2. already become a knowledge that have a secret value that not yet been used in a big data

3. consolidation and integration is step by step inside database

4. consolidation of databases and other data storage into a single location in the form of a data warehouse

5. progress is rapid and exponential in data processing and database technology.

6. significant price reductions in hardware and software for the storage and processing of data.

7. the movement towards 'de-massification' (conversion of information into a form that is non-physical) in business practices.

Data that get gained from the internet increase very fast in volume position and complexity. The large amount of data generates continuously and accumulates all over the world. Data mining is used to detect and reduce fraud activities, especially on :

- in insurance claims and credit card use

- to determine patterns of purchases by customers

- to acquire profitable customers back

- to find out the various trading rules based on historical data

- to help to improve profitability by using a market-basket analysis