importance of data mining

The importance of data mining for the growth of a company

The patterns observed in the most diverse daily episodes are a true source of knowledge for the human being. This is how hypotheses and theories are born, driving the growth and development of society. With the advent of the technological age, the importance of data mining has gained a new direction to cover also the observation of information generated in digital environments, giving rise to a process called data mining.

importance of data miningImportance of data mining

To be more specific, the concept refers to a set of mathematical analysis techniques that seeks patterns and trends from a large number of data. Normally, this information cannot be obtained in a traditional study, both in terms of complexity and quantity of data, and therefore rely on technology as an important ally for analysis. The results obtained can be used to develop scientific research and also to boost the profitability of a company, making it innovative and competitive in the market.

In the latter case, data mining makes it possible for enterprises to refine all information generated daily by departments, seeking patterns and links between them. As a consequence, it is possible to get to know customers better, their consumption patterns and motivations, making decision making easier. In addition, the results obtained with the analysis allow to know the market trends, so that the managers can base the actions at the time of the planning.

importance of data mining

Data Mining Laboratory in Joinville

Companies in northern Santa Catarina can also take advantage of these techniques and gain competitive advantage. Since February 2016, the Data Mining Laboratory has been operating at Inovaparq , providing strategic knowledge related to different branches. For this, collection and analysis activities are developed in public and private databases.

The project arose from the need to understand relevant perspectives on how to deal with technology, since it is increasingly present in people’s lives and hence in the corporate environment. Proof of this is the estimate that the world used about 2.8 zettabytes of data in 2015, which corresponds to 2.8 billion HDs with a capacity of 1 terabyte.

importance of data mining

The laboratory in Joinville is the result of an Inovaparq partnership with the Miguel Abuhab Institute (IMA), Perini Business Park and Lovedata. The knowledge gained will serve as a basis for developing solutions in innovation, building marketing strategies, reducing costs, managing customer relationships, analyzing consumer behavior, improving the sales process, and other advantages. In addition, the project counts on the participation of university professors, whose mission is to improve the quality of the information, helping in the interpretation of the contents made available.

Importance of data mining is wide and large. It is an effective way to ensure corporate growth based on accurate and accurate decisions. After all, information is power and provides great advantage over competitors.