article thumbnail

3 Data Mining Tips for Companies Trying to Understand their Customers

Smart Data Collective

Modern businesses that neglect to invest in big data are at a tremendous disadvantage in an evolving global economy. Smart companies realize that data mining serves many important purposes that cannot be overlooked. One of the most important benefits of data mining is gaining knowledge about customers.

article thumbnail

Banks Merge Data Mining and CRM Tools to Boost Profitability

Smart Data Collective

Banks that take immediate action based on their data analytics fraud scoring algorithms, such as blocking irregular transactions, can prevent fraud before it happens. The American Association of Actuaries reports that big data can also help with actuarial decision making.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

article thumbnail

Using ODBC in Excel to Create Sales Reports After Mining Sales Data

Smart Data Collective

Data mining technology has become very important for modern businesses. Companies use data mining technology for a variety of purposes. One of the most important is collecting revenue data to draft financial statements, forecast future sales and make decisions to address revenue shortfalls.

Sales 106
article thumbnail

What Role Does Data Mining Play for Business Intelligence?

Jet Global

Business intelligence (BI) software can help by combining online analytical processing (OLAP), location intelligence, enterprise reporting, and more. So how does a leading-edge business find a way to marry their wealth of data with the opportunity to utilize it effectively via BI software? Toiling Away in the Data Mines.

article thumbnail

Reporting System: Everything You Need to Know

FineReport

When mentioning the reporting, folders loaded with spreadsheets, graphs, and commentaries may ring a bell. With the development of enterprise informatization, there are more and more kinds of data produced, and the demand for reports surges day by day. What is the Reporting System? Software to Build Reporting System.

article thumbnail

A Complete Guide For BI Reporting

FineReport

What is BI Reporting? . Business Intelligence is commonly divided into four different types: reporting, analysis, monitoring, and prediction. BI reporting is often called reporting. In other words, you can view BI reporting as various styles+ dynamic data. . BI Reports can vary in their interactivity.

article thumbnail

Data Analytics Plays a Vital Role in Teacher Verification Software

Smart Data Collective

Diagnostic data analytics: It analyses the data from the past to identify the cause of an event by using techniques like data mining, data discovery, and drill down. Descriptive data analytics: It is the foundation of reporting, addressing questions like “how many”, “where”, “when”, and “what”.