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Using Data Mining to Stay Ahead of the Curve

Data Mining

Business analysis is the process of using statistical models and techniques to predict the future performance of a business, or gain insight on past performance. Based on data mining software, intelligent businesses can extract patterns from the web using algorithms and place it into a database for learning. Using web applications as a research tool has been big for some time, but the predictive capabilities are now more advanced. Commodity hardware is readily available in the cloud through services like Amazon EC2, and there are not the same limits in place when processing large data sets.

Data mining technology can provide real useful data for analysis. Most company data becomes more valuable over time. Trends that would never be captured are clearly outlined in the data. Data mining for knowledge is a way to see new trends before others. Relationships and related range statistics become clear to users. It is possible that years of research can be surpassed with the proper data mining techniques and a year of time. Consideration must be taken during development to forecast future needs of the application.

Ethical Data Mining

Knowing how to request data from web applications is all about timing requests so that they are not reaching the web server too frequently. Web administrators go through lengths to make sure that servers are responsive to their clients. It is important not to disrupt the normal processes of a web application with data mining that is too frequent. When scraping content from a website, it is best to capture results only as frequently as required for the intelligence gathering. In cases where programs scrape a website too frequently, security mechanisms may trigger permanent bans, or other negative responses.

In general, it is always best to extend professional courtesy to a website and have respect for its systems and technologies. Powerful web scraping may violate the policy of a website and cause it a problem. Active monitoring of request rates will lead to many benefits. Web developers should create a log to monitor the result of each query, and respond quickly to any problems that arise with the target website. Having analytics regarding the success of the web scraping will improve management of the technology and lead to better service.

Using Data for Business

Once data is gathered, it is important to transform it into business information for analysts and corporate executives. Data mining and subsequent visualization technologies are complex solutions that require programmers and data scientists. The amount of infrastructure and staff required will normally depend on the availability, sensitivity, and quantity of data required. A creative digital team should explore different opportunities to find the most cost effective way to capture and maintain the data stores.

Some popular ways of viewing data are Excel spreadsheet exports, and web applications with visualization tools built-in.

Data Mining Examples

Examples of how data mining can be used are nearly endless. From everything to capturing price quotes to generating leads for business, web scraping is a proven method for harnessing the power of the internet. The collection of consumer data available for analyzing is immense. Social media events present a unique opportunity for insight. There is much basis to believe that companies who do not use data mining will miss out on trends that others will see immediately.

Data Mining Companies

When searching for a data mining company, it is important to first determine the reputation of the company. A data mining company handles sensitive information that may affect the competitive position of a client. The client should be careful to choose the right company by asking questions. If possible, ask for a sample on a simple task to make sure the company is efficient. The ideal company has performed numerous data mining tasks before and has displayed the ability to keep client information confidential. History is the best indicator of future behavior.

Andrade Global is a data mining company based in Manhattan. Specializing in extracting data, Andrade Global maintains complete confidentiality for all its clients. If interested in learning more about how much a data mining project would cost, please contact Andrade Global at +1 (212) 858-9444.

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