TITLE

Business Intelligence and Data Mining

AUTHOR(S)
Corbitt, Terry
PUB. DATE
November 2003
SOURCE
Management Services;Nov2003, Vol. 47 Issue 11, p18
SOURCE TYPE
Academic Journal
DOC. TYPE
Article
ABSTRACT
The article discusses factors to consider about business intelligence and data mining. Managers are dependent on detailed, accurate information when they make decisions. Data warehousing has shown that it can satisfy this need for information about customers, suppliers, and market trends and how efficient the company's business procedures are. In a survey carried out by MicroStrategy, who are specialists in the technology used to explore, analyze and distribute information held in central data warehouses, it was found that 10 percent of the financial companies taking part were already gaining commercially by their use of information from their data warehouses. A third of financial services companies in Great Britain in the survey had reached the production stages of data warehousing, allowing large numbers of users to carry out complex analysis of information to achieve specific business goals. Data mining is a way to access the stored information. It uses the most sophisticated statistical analysis to discover relationships in the data. Data mining techniques can also be used to identify previously unknown relationships in sales data that can be used as the basis for future promotion.
ACCESSION #
11545509

 

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