Data Mining

Data mining is a great way to create new business opportunities. The good news is that this powerful technology is no longer a 'black art' which can only be practiced by specialists. Data mining is now becoming mainstream for three reasons. First, it is a mature and tested technology that is easily available. The leading database vendors have included data mining as part of their core products. Second, the current generation of data mining tools is no more difficult to use than a spreadsheet program. This is why those tools are increasingly used by computer literate business users. Third, with data mining you can create intelligent applications that not only reflect the past but also predict the future. This helps companies to increase sales, reduce risk, prevent fraud and churn. There are many possible applications of data mining to achieve better business results.

In simple terms, data mining tools dig through vast quantities of data to discover hidden patterns and relationships. Some of those discoveries prove to be very useful and can be leveraged in running your business. The common types of questions that can be answered through data mining include:

• Who is most likely to purchase a particular product?
• Which customers are likely to leave and why?
• Is this transaction likely to be fraudulent?
• What mix of products do customers purchase?

With data mining providing objective answers, your organization can take appropriate actions to capitalize on opportunities and to prevent threats.

How Lingaro makes a difference
Although data mining tools are becoming easier to use, successful data mining requires a solid understanding of statistical analysis and practical experience. Lingaro can help you take advantage of this great technology and make it work for your business. We prefer to start with equipping clients’ employees in knowledge required to understand data mining tools and models as well as their real-life application. They will need this knowledge to independently monitor and maintain data mining models after Lingaro’s engagement is completed. We also imbed the data mining models into analytic and operational applications. Such an approach unleashes the power of predictive applications and puts them in the hands of an average employee.

On a typical engagement, Lingaro works together with a client’s team to perform the following: