A corporate database of the enterprise usually contains a set of tables that store records of some facts or objects. However, the set of records, accumulated over several years, can be a source of additional information that cannot be obtained on the basis of a particular record, namely, information about the patterns, trends or relationship between some data. This kind of information is commonly used in forecasting and strategic planning, and its worth for companies is very high.
Apparently, that is why the process of its searching was named Data Mining. In other words, the term Data Mining actually denotes the process of finding correlations, trends, relationships and patterns through a variety of mathematical and statistical algorithms – clustering, creation of subsamples, regressional and correlational analysis. The purpose of this search – is to present data in such a way that it would become possible to understand the behavior of business processes, as well as to construct a model which can be used to predict the processes that play a role in business planning (for example, dynamics of demand for certain goods or services).
Modern means of finding patterns, correlations and trends can carry it as in a relational database, as in the OLAP cubes.
We must note that Data Mining tools usually refer to an expensive software – up to several tens thousands of dollars. However, some tools for analysis and processing of enterprise’s data contain tools to find patterns.
BI tools and development of BI-applications.
Modern Business Intelligence tolls include not only generators of reports and OLAP tools, but also means of development of BI-applications (BI Platforms), as well as tools for analysis and processing enterprise’s data allowing performing a set of actions related to the data analysis and creation of reports (Enterprise BI Suites). The latter tends to contain either reporting tools, or OLAP-tools, and often Data Mining equipment in its structure.
Today our world is the world of modern technologies. These days the more your activity is automated, the better, in particular when it refers to Business Intelligence. Reporting is a very significant thing. So if you need to automate your reporting activities, you might think of using SQL Server solution. Having reporting automated will help minimizing manual process and saving time and money. Look through this Crystal Reports site to get more detailed information.
And bear in mind that we live in the world of high online technologies. It wouldn’t be smart not to make use of the Internet network to search for anything on the best terms available on the market. Search engines, social networks, blogs and forums – all this will help you make a decision on many issues.