Posted by admin | Posted in Data Mining Analysis | Posted on 14-12-2011
Data Mining has earned many monikers in business over the years. Data discovery and fact search are a couple of them. Analysis being done on the retrieved data adds a certain twist to the game. The data finally gets summarized into a useful format, coming out in a form that can be studied, understood and used for making a business better.
Data mining analysis helps analyze the relation between large scale information technology involving analytical systems and distinct transactions. Understanding relations and patterns eases. Performed extensively on classes, clusters, sequential patterns and associations, it helps trace out undetermined groups. Items get grouped in accordance with logical relationships and consumer preferences. Behavioral patterns are observed and understood easily.
Financial Market Research is a domain where the use of data mining analysis is done extensively. The marketing research reports prepared in this domain are replete with facts found and dug out with the help of these methods.
The steps are segregated nicely, namely extraction, data storage, access to business analysis, analysis via application software and presenting in a cohesive format. Given the complicated nature of financial market research, data mining analysis is used meticulously. Extracted data is further stored onto warehouse systems. Stored data goes into a multidimensional database system. The next step involves getting access to business analysis. Further analysis is done through application software.
Financial market research done via data mining and analysis happens so in several ways. Artificial Neural Networks, Genetic Algorithms, Decision Tress, Rule Induction, Data Visualization and The Nearest Neighbor Method are resorted to for preparing marketing research reports.
Mining and further analyzing help navigate through any given set of data seamlessly. Best, it can further be recalibrated if one feels the arrangement is not done appropriately. Discovering the right data and analyzing it inside out helps understand the toughest of markets within minimal time.