Welcome to Statistics & Applied Economics Consulting
How to discover value in mountain of data? Data mining uses sophisticated statistical analysis and modelling techniques to uncover patterns and relationships hidden in organizational databases. Data mining and knowledge discovery aim at tools and techniques to process structured information from databases to data warehouses to data mining, and to knowledge discovery.
The continuing rapid growth of on-line data and the widespread use of databases necessitate the development of techniques for extracting useful knowledge and for facilitating database access. The challenge of extracting knowledge from data is of common interest to several fields, including statistics, databases, pattern recognition, machine learning, data visualization, optimization, and high-performance computing.
The data mining process involves identifying an appropriate data set to “mine” or sift through to discover data content relationships. Data mining tools include techniques like case-based reasoning, cluster analysis, data visualization, fuzzy query and analysis, and neural networks. Data mining sometimes resembles the traditional scientific method of identifying a hypothesis and then testing it using an appropriate data set. Sometimes however data mining is reminiscent of what happens when data has been collected and no significant results were found and hence an ad hoc, exploratory analysis is conducted to find a significant relationship.
Extracting information from a data set and then transforming it into an understandable structure which can be used further is the goal of data mining process. The other process involved are interestingness metrics, data pre-processing, data management aspects, post-processing of discovered structures, complexity considerations, model and inference considerations, visualization, and online updating. Now days it is used by companies which have strong consumer focus – financial, retail, communication, and marketing organizations.
Our data mining consulting will help put you on the fast track to accurate and impressive results by utilizing the information you already have. We can help you predict specific outcomes based on your current data and formulate strategies for even greater improvement. Our data mining for business intelligence recognizes your unique environment and is formulated to best suit your needs in order to provide optimum results. We want to provide immediate and actionable insight so you can formulate a well-structured solution to get your business moving in the right direction.
Our data mining services will assist you in expanding your customer base by analyzing existing data, and accurately assessing risk management. We have the software and the expertise to help you make more effective business decisions by identifying new opportunities, to give you a significant edge over your competitors.
Our data mining consulting offers you the following supports:
Determine the feasibility of completing a successful data mining project.
o By defining data mining, aligning business objectives, and determining all data sources needed to mine through a single data table.
Prepare data for building data mining models.
o By identifying and correcting data problems, identifying and creating new features, and extracting samples from the database(s).
Develop a data mining model solution to business objectives.
o By identifying data mining methods to use and creating actionable models for execution.
Deploy data mining models by creating software infrastructure that uses data mining models to score new data.
o By developing software to complete the deployment plan, and test the software to ensure accurate deployment of the models.
We offer to provide data mining solutions using any software of your choice. In past, most of our clients wanted us to use software environments such as R, Matlab, Weka, Rapid/Miner, KMINE, SAS Enterprise Miner, IBM SPSS Modeler etc.