BUSINESS INTELLIGENCE DATA MINING
Business intelligence is a computerized technique used is searching, storing and analyzing useful business information (http://en.wikipedia.org/wiki/Business_intelligence). Business intelligence is an increasing strategy employed by many modern ventures, in the attempt to providing quick access to information and helps the business in making appropriate decisions. Holistic information on ones business environment is an important tool, since it does not only shows your past trend, but also prepares the firm for the future improvements. This sets a challenge in establishing the methods to source for the information, and how to use this information to improve a business position .
Data mining is the sourcing of any hidden and predictive business information from a relevant database. It involves a thorough analysis of data gained from various sources, manipulating it into useful tool - a tool that leads to raising business revenue, saving on the running costs or both (http://en.wikipedia.org/wiki/Data_mining). Data mining tool incorporates analytical tools that helps build a useful predictive relationship. Data mining tools helps get answers as it scrutinizes data from different perspective to a precision, than any expert could do. Interplay of data mining process with software and hardware utilities is a big step in data analysis. The integration of artificial intelligence and databases heightens the data-mining goal as the information is translated into human-understandable format. This brings a chain link between databases and other data processing and management systems. When data mining and analysis are paired with decision support system, appropriate responses to the summarized data is given, which serves as a determinant to business’ future position.
Data mining is a powerful tool in business modeling. Business modeling