Data Mining involves collection, analysis and integration of vast amounts of data and is an important tool for the commerce and business communities. It has already established a wide range of applications in today’s highly competitive business scenario. Some of the common types of data mining which are based on mathematical algorithms include audio data mining, video data mining, picture data mining, relational databases, text mining and web mining. Business intelligence refers to the different technologies that are used to get information from databases that helps take business decisions.
Some of the common uses of business intelligence include,
- Competition analysis
- Industry research
- Sales/market research
- Economical trends
- Geographical information analysis
- Consumer behavior
Business intelligence is often misunderstood for another business management term called competitive intelligence. As the term suggests competitive intelligence is more about making a company more competitive with relation to a certain set of competitors. On the other hand business intelligence can not only help learn about the external competitive environment but also improve inter departmental and coordinative activities within the company supported by the analytical information from data warehousing. A well implemented Business intelligence greatly improves the company’s performance.
Managed Outsource Solutions is a US based company that offers a wide range of outsourced services like data mining, KDD, data entry, data processing, data cleaning and data entry services for clients in the US, the UK, Canada and Australia.