Emerging Data Mining Trends That Can Help You Gain a Leading Edge | Get in Touch With Quantzig’s Analytics Experts for Comprehensive Insights
LONDON--(BUSINESS WIRE)--Nov 4, 2019--
Quantzig, a global data analytics and advisory firm, that delivers actionable analytics solutions to resolve complex business problems has announced the completion of its latest resource that offers comprehensive insights on the emerging trends in data warehousing and data mining.
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Today data mining techniques have become strategically important to many data-rich firms and play a key role in enterprise decision making. To thrive in an ever more competitive and technologically inclined business world, you not only have to mine data to find similar patterns but should focus on converting them into actionable insights using advanced analytics tools. By using advanced analytics tools and data mining techniques businesses can gain a competitive edge over their competitors as it helps convert data into valuable insights that help improve customer experience and business value.
Data mining and data warehousing hold a prominent place in every business agenda as it contributes significantly to decision-making. Looking for more insights? Request a FREE proposal now!
According to Quantzig’s data analytics experts, “Data mining helps find anomalies, similar patterns, and correlations within large unstructured data sets to predict business outcomes.”
Emerging Trends in Data Warehousing and Data Mining
1. Time Series Data Mining
Time series-based data mining plays a crucial role in analyzing data sets to analyze periodic trends. Its ability to understand customer needs and analyze their buying patterns is one of the main reasons that has led to the wide-spread adoption of this technique across industries, especially retail.
Did you know? Unstructured data sets contribute to about 90% of the digital universe. However, more information doesn’t necessarily mean more insights unless it's processed and analyzed systematically.
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2. Ubiquitous Data Mining
This method involves the mining of data from mobile devices to get information about individuals. This data mining method offers a lot of opportunities for players across industries especially in studying human-computer interactions.
Data mining is a cornerstone of all business processes, playing a key role in devising business models that can uncover correlations within millions or even billions of data sets.
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3. Distributed Data Mining
Distributed data mining revolves around the use of sophisticated algorithms that source and analyze data sets from different locations or business units.
4. Multimedia Data Mining
Multimedia data mining is a data mining technique that extracts data from different sources and converts it into a numerical representation for easy analysis. Apart from data clustering and classification, it also helps perform similarity checks to identify associations between data sets.
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Quantzig is a global analytics and advisory firm with offices in the US, UK, Canada, China, and India. For more than 15 years, we have assisted our clients across the globe with end-to-end data modeling capabilities to leverage analytics for prudent decision making. Today, our firm consists of 120+ clients, including 45 Fortune 500 companies. For more information on our engagement policies and pricing plans, visit: https://www.quantzig.com/request-for-proposal
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