Data mining is the process of finding previously unknown correlations or patterns among dozens of fields in large databases. The goal is to transform vast quantities of digital data into actionable information. The practice of data mining, or knowledge discovery as it is sometimes aptly named, is currently used across broad market sectors. Simply stated, this is the process of uncovering marketing patterns, error detection, and operational correlation discovery through the identification of relationships among variables. When data mining is integrated into a modeling and decision making process, it assists organizations with operational optimization and profitability forecasting.
Consider these benefits:
- Empower IT has vast experience in cleansing and normalizing source data, integrating diverse data streams, and building custom OLAP data cubes so that the data can be effectively mined through computational techniques to establish statistical relationships, pattern recognitions, and correlations that will drive the decision making process.
- Empower IT is expert in coding standard attribute values to like products or like locations which facilitates the pattern recognition process in data mining.
Empower IT uses data mining practices to help organizations focus their efforts on key business drivers such as:
- Profitable prospects that are predicted to have a high likelihood of receiving responses to an offer.
- Optimizing resources across campaigns so that one may predict to which channel and to which offer an individual is most likely to respond.
- Helping consumer goods companies use their customer purchase data to uncover which products are frequently bought within the same market basket