Diminishing downsides of Data Mining

Authors:
John Wang;Xiaohua Hu;Dan Zhu
Affiliations:
Department of M&IS, Montclair State University, Montclair, NJ 07043, USA.;College of Information Science and Technology, Drexel University, Philadelphia, PA 19104, USA.;Department of Logistics, Operations and MIS, Iowa State University, Ames, IA 50011, USA
Venue:
International Journal of Business Intelligence and Data Mining
Year:
2007

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Abstract

Data Mining (DM) helps deliver tremendous insights for businesses into the problems they face and aids in identifying new opportunities. It further helps businesses to solve more complex problems and make smarter decisions. DM is a potentially powerful tool for companies; however, more research is needed to measure the benefits of DM. This paper represents a study of the effectiveness of DM in a commercial perspective. First, statistical issues are given. It is followed by data accuracy and standardisation. Diverse problems related to the information used for conducting a DM research are identified. Also, the technical challenges and potential roadblocks in an organisation itself are described.