Modern Business Tools: Data Mining and Data Warehousing

Data mining and data warehousing are used everyday in various environments. In today's business world, decisions must be made quickly with maximum knowledge. Data warehouse is a process of combining data from multiple sources and storing them in the public database (Gutierrez). The basic concept of data warehousing is the difference between data and information. Data is observable and recordable, but it is valuable only when presented as information.

This article describes the data warehouse and data mining, tools and techniques for data mining and data warehousing, and the advantages of applying this concept to an organization. It also includes data warehousing and data mining trends and applications in the current business community. Organizations use the information system to record and retrieve data from daily transactions. The information system linked to that database provides valuable data to make important and strategic decisions about the company's happiness. Organizations can predict what they have not achieved yet. This data can also be used to provide a possible solution to solve the problem you are facing and you can also use this data to gain a competitive advantage in the business environment.

Data mining is a set of tools for learning acquired data and then using information useful for business forecasting. Data mining tools use and analyze data that exists in databases, data marts, and data warehouses. Data mining tools can be categorized into four types of tools: prediction tools, classification tools, cluster analysis tools, and discovery of related rules. The following is a detailed explanation of the data mining tool. The classification tool tries to distinguish between object class and operation class. For example, an advertiser may want to know which aspect of promotion is most attractive to consumers. Is the price, quality, reliability of the product? Perhaps this is a special feature that is missing in competing products. With this tool you can provide this kind of information on all products and use the advertising budget most effectively.