Data is dirty. It is rich with massive amounts of information. Some is vital some is useless. Deciphering which data is relevant and then obtaining it in the proper form is the key to success. Data Mining can be a really dirty job. But, beneath that dirt, is the data that will drive Business Analytics (BA). Ultimately, this BA gives companies the Business Intelligence they are trying to unearth.
Imagine a world where each piece of the pie was perfectly sliced and served. All with a side of pretty whipped cream. Data is delivered, but digging through it and extracting the pieces that are edible is one of the biggest challenges faced. More often than not, it appears in a form that needs to be manipulated before utilizing it in our business analysis. Many times companies don't believe they have the resources, time or patience to mine the data. That is a fallacy. In fact, companies need to realize they do not have the luxury to relegate data mining to the back burner. Take Insurance Companies utilizing Social Media data to determine if people pose a coverage risk. They have realized there is a whole lot of data waiting to be mined which will ultimately, lead to better business decisions. We are not alone in our pursuit for intelligence. As reported recently by Gartner, CIOs in Asia are making business intelligence, analytics, mobile technologies, and cloud computing a priority.
Mined data, in relevant and usable formats, can be utilized in Business Analysis (BA). This BA shines a whole new light on a company's path/direction. However, the process of Data Mining often becomes too laborious and fraught with detours, leading companies to abandon the road. We cannot stress how important it is to plan ahead. Plan for Detours. Plan Resources. Devote Time. Most importantly, persevere! Beneath that dirt is the data that will drive Business Analytics giving companies that Business Intelligence they are desperately trying to unearth.
