Why Data mining is still a powerful tool to help companies

The ability of Data mining technologies to sift through volumes of data and arrive at predictive information to empower businesses can in no way be undermined. The advent of new techniques and technologies has made the practice more affordable by organizations both big and small. The new technologies have not only helped in reducing the overhead costs of running the data mining exercise, but also simplified the practice making it more accessible for smaller and mid-size companies employ it in their organizational processes. In the current era, information is power and Web Data Mining Technologies are stretching the limits of their capabilities to help organizations acquire that power.

Data Mining Ensures Better Business Decisions
 
Organizations usually have access to large databases which store millions of historical data record. Traditional practices of hands-on analysis of patterns and trends of all available data proved to be too cumbersome to be pursued and were soon replaced with shorter and more selective data sets. This caused hidden patterns to remain hidden thus blocking off possibilities for organizations to grow and evolve. However, the advent of Data Mining as a technology that automates the identification of complex patterns in those databases changed all that. Organizations, now, are engaging in a thorough analysis of massive data sets and are moving ahead to extracting meanings and patterns from them. The analysis helps to unlock the hidden patterns and enables organizations to predict future market behavior and be geared with proactive and knowledge driven decisions for the benefit of their business.

Data Mining provides Fraud Detection Capabilities
 
Loss in Revenue has definite adverse impacts on a company’s morale. It slackens productivity and slows down their growth. Fraud is one of the common malpractices that eat into the organization’s revenue earning capability. Data Mining helps to prevent this and ensures a steady rise in their revenue graph. Data mining models can be built to predict consumer behavior patterns which help in effectively detecting fraud.

Data Mining Evolves to be Business Focused
 
Traditional Data Mining technologies were focused more on algorithms and statistics on delivering results which, though good failed to address the business issues appropriately. The new age data mining technologies, however, have evolved to become business focused. They understand the needs that drive the business and utilize the strong statistical algorithms built into their system to explore, collect, analyze and summarize data that can be made to work for better health of the business.

Data Mining has become more Granular
 
As technology evolves, organizations leverage the benefits it generates. Integration of fundamental data mining functionalists into database engines is one such innovation that has helped organizations to thoroughly benefit from its effect. Mining data from within the database instead of Web Data Extraction the data and then analyzing it saves valuable time for the organization. Moreover, as organizations can now drill down into more granular levels of the data therefore there is a higher possibility of ensuring accuracy. Moreover, as data mining software now have a more direct access to the data sets within the database, there is a higher possibility of ensuring a smoother workflow and hence a better performance.

Conclusion
 
Data mining, though capable of helping organizations generate good things, however, needs to be used intelligently. It has to be strongly aligned with the organization’s goals and principles in order to ensure appropriate performance that would strengthen the organization adequately.

How to Build Data Warehouses using Web Scraping

Businesses all over the world are facing an avalanche of information which needs to be collated, organized, analyzed and utilized in an appropriate fashion. Moreover, with each increasing year there is a perceived shortening of the turnaround time for businesses to take decisions based on information they have assimilated. Data Extractors, therefore, have evolved with a more significant role in modern day businesses than just mere collectors or scrapers of unstructured data. They cleanse structure and store contextual data in veritable warehouses, so as to make it available for transformation into useable information as and when the business requires. Data warehouses, therefore, are the curators of information which businesses seek to treasure and to use.

Understanding Data Warehouses
 
Traditionally, Data Warehouses have been premised on the concept of getting easy access to readily available data. Modern day usage has helped it to evolve as a rich repository to store current and historical data that can be used to conduct data analysis and generate reports. As it also stores historical data, Data Warehouses are used to generate trending reports to help businesses foresee their prospects. In other words, data warehouses are the modern day crystal balls which businesses zealously pore over to foretell their future in the Industry.

Scraping Web Data for Creating Warehouses

The Web, as we know it, is a rich repository of a whole host of information. However, it is not always easy to access this information for the benefit of our businesses through manual processes. The data extractor tools, therefore, have been built to quickly and easily, scrape, cleanse and structure and store it in Data Warehouses so as to be readily available in a useable format.

Web Scraping tools are variously designed to help both programmers as well as non-programmers to retain their comfort zone while collecting data to create the data warehouses. There are several tools with point and click interfaces that ease out the process considerably. You can simply define the type of data you want and the tool will take care of the rest. Also, most tools such as these are able to store the data in the cloud and therefore do not need to maintain costly hardware or whole teams of developers to manage the repository.
Moreover, as most tools use a browser rendering technology, it helps to simulate the web viewing experience of humans thereby easing the usability aspect among business users facilitating the data extraction and storage process further.

Conclusion

The internet as we know it is stocked with valuable data most of which are not always easy to access. Web Data extraction tools have therefore gained popularity among businesses as they browse, search, navigate simulating your experience of web browsing and finally extract data fields specific to your industry and appropriate to your needs. These are stored in repositories for analysis and generation of reports. Thus evolves the need and utility of Data warehouses. As the process of data collection and organization from unstructured to structured form is automated, there is an assurance of accuracy built into the process which enhances the value and credibility of data warehouses. Web Data scraping is no doubt the value enhancers for Data warehouses in the current scenario.