Data mining because of many reasons is really promising. The process helps in getting concealed and valuable information after scrutinizing information from different databases. Some of the data mining techniques used are AI (Artificial intelligence), machine learning and statistical. The process, in fact, helps various industries for intensifying their business efficacy.
Among different processes, one of the most reliable and user-friendly is the CRISP-DM technique. This is what most of the professional service providers also prefer. Let us see the six steps involved in it.
Understanding the business
Firstly an in-depth analysis of the business objectives and needs has to be done. Current situation must be accessed and from these insights, the goals of carrying out the processes must be defined. This should follow the setting up of a plan to proceed.
Understanding the data
Initial facts and figures collection are done from all available sources. Then the properties of data acquired is examined. Then the quality of information is verified by answers to certain relevant questions concerning the completeness and accuracy of the material.
Preparation of data
This has to be carried out very carefully and a typical data mining company understands it. After the sources are completely identified, proper selection, cleansing, constructing and formatting is done. Exploration of information may be executed for noticing the patterns in light of business understandings.
Selection of modelling technique is the very first step to take followed by the generation of test scenario for validating the model’s quality. After that few more models are generated. All the models are then assessed to make sure that they fall in line with the business initiatives.
Here the results of models are evaluated in the backdrop of business intentions. Then new objectives may sprout up owing to the new patterns discovered. This is, in fact, an iterative process and the decision whether to consider them or not has to be made in this step before moving on to the final phase.
The final information gathered has to be presented in a usable manner to the stakeholders. This has to be done as per their expectations and business requirements. The process may be simple or complex depending on numerable factors.
Many companies are there offering data mining services. Select the best one to assure that your needs are accurately addressed.