DATA MINING

Our View of Data Mining

Z Solutions defines data mining as the systematic exploration of data for the purpose of extracting key patterns or findings. Organizations typically have large stores of data available due to advances in information technology and reduced costs for data storage. The question is how to best utilize data given continuous increases in volume and complexity? Companies that can more quickly and efficiently uncover useful information to help run their businesses have a distinct competitive advantage.

The term Data Mining has grown to mean a very specific task to many users. To many the term refers to list mining for direct marketing; the exploration of a list of customers (or potential customers) to determine who is the most likely to respond to an offer.

At Z Solutions we see Data Mining differently. Data Mining is composed of three distinct areas:

List Mining: Certainly popular and useful, list mining is frequently used in the financial or direct marketing world. The goal is to determine who is most likely to respond to an offer. Little or no attention is given to why they respond or how the organization might change the offer to increase response.

Exploratory Data Mining: Exploratory Data Mining uses Predictive Analytics approaches. These approaches are more concerned with "why" something happened as opposed to "what" happened. For example, Exploratory Data Mining might go beyond population summaries of market share to determine who is buying the company's products to identify who is buying at unexpected rates and why that is happening. This is often achieved through multi-dimensioned predictive modeling to isolate significant patterns.

White Paper

Organizational Data Mining: Z Solutions recognizes the need for Organizational Data Mining (ODM). This practice goes beyond the analytical processes and includes all facets of the issues that need to be addressed to apply the findings of the research to the organization.

Case Study

Z Solutions provides training on data mining including all three areas discussed. Also please see the related information on our consulting applications in these areas.

Explore/Discover

"The empires of the future are the empires of the mind."
- Sir Winston Churchill