Data mining uses complex techniques and algorithms to identify interesting and relevant patterns from large data sets. This interdisciplinary field draws upon statistics, machine learning, information retrieval, pattern recognition, and bioinformatics. Data mining applications are utilized to obtain deep insight across a wide variety of industries including retail, finance, social media and telecommunications, to name a few.
Data Mining algorithms perform tasks such as regression analysis, clustering, classification, prediction, outlier detection, time series analysis, and sentiment analysis.
In today's applications, according to the CRISP-DM (Cross Industry Standard Process for Data Mining), the Data Mining process consists of six phases as follows:
Data Mining Analysts, Researchers, and Practitioners are continually challenged when using the algorithms because the behavior and patterns identified change significantly as a function of the set parameters.
R Machine Learning & Statistical Consulting uses Data Mining to assist businesses with tactical and strategic decisions and cost savings initiatives. Through insights in competitive intelligence, we assist our clients' Marketing efforts in exploring new and untapped customer base opportunities through pricing and positioning decisions. Also, our services are used to perform detailed analyses of marketing campaigns, sales forecasting, direct marketing efforts, and customer retention/acquisition.
We welcome you to Contact Us to learn more about how we can boost your marketing and sales success and bottom line profitability through Data Mining technology.