The need for Information analysis and data mining is growing by the day as tons and tons of data is being accumulated. For example Wal-Mart alone could generate about 11 Tbytes (Trillion bytes) of database of customer transactions in just one year. What are the common sources of data today? Well today data is generated from a wide range of sources including:
- Telephone calls
- Credit card transactions
- Web click streams
- Medical research
First generation data mining tools emerged in 1980s. These research driven tools could do only one work at a time like:
- Building a classifier
- Building a neural network
- Data visualization
- Finding clusters in data
“Suites” are second generation data mining tools that emerged in 1995. These tools could do several discovery tasks and implemented multiple types of data analysis with focus on data cleaning and data preprocessing. These tools empowered the data analysts but could not be used directly by the business user.
Third generation vertical data mining based applications are used to solve specific business problems and these started emerging in the late 1990s. These integrated systems have access to legacy systems. These were followed by the recent text and web mining and the development of specialized applications that could be used in a variety of areas including:
- Internet advertising
- Banking and Credit
Managed Outsource Solutions is a US based BPO services pioneer that offers a wide range of services to clients in the US, UK, Canada and Australia. Services include data mining, data cleaning, data processing, data conversion, and a variety of data entry.