{"id":321,"date":"2015-02-19T16:17:11","date_gmt":"2015-02-19T16:17:11","guid":{"rendered":"http:\/\/www.vcallglobal.com\/blog\/?p=321"},"modified":"2021-02-26T11:50:26","modified_gmt":"2021-02-26T11:50:26","slug":"back-office-support-theories-sacred-laws-of-data-mining","status":"publish","type":"post","link":"https:\/\/www.vcallglobal.com\/blog\/2015\/02\/back-office-support-theories-sacred-laws-of-data-mining\/","title":{"rendered":"Back Office Support Theories: Sacred Laws of Data Mining"},"content":{"rendered":"

For centuries now business owners have tried every trick in the book to predict what their customers want. They have used many techniques and technologies to get into the minds of their customers. Not that they have settled yet, but data analytics and data mining are two ways which can help the business owners predict the unthinkable i.e. what their customers want. In the digital age there is plenty of data, and most of them are valuable business data. But the quantity of data is so huge that making a sense of them is not humanely possible. This is why new concepts have emerged in the realms of back office support<\/strong>.<\/p>\n

\"Back<\/a><\/p>\n

Though, data mining cannot be called a new concept in strict terms. It came into the business equation in the 1990s. What is this data mining thing? It is creating new knowledge whether in natural or artificial form using the business data. The analyst has to find patterns in the business data and predict. As this is a theoretical approach to business data analytics<\/a> so the scholars did not ponder much over explaining how this concept worked. The people who knew it went on using it to their business success, while others were just beating around the bush. So, today we throw a light on some of the sacred laws of data mining.<\/p>\n

#1: Data Mining Solution Originates from a Business Goal<\/strong><\/p>\n

The scope of data mining is also defined by the above mentioned statement. Data mining is a way to solve your long standing business problems. It is not a technology, it can be rather held as a process which stems from a list of business objectives. If there is no business goal in sight, then there is no data mining as well.<\/p>\n

#2: Data Mining Process Steps are dictated by Business Knowledge<\/strong><\/p>\n

This statement clearly illustrates the characteristic of data mining. Even the business goals should be created after understanding the business knowledge. Business knowledge is important while deploying results. Let\u2019s see how data mining phases are affected by business knowledge:<\/p>\n