Data Mining and Unstructured Data

gjzunic@yahoo.comv15 (Administrator) — Thu, 07 Jan 2010 20:25:59 -0500

First Light provides a solution for aggregating the data available on the web for use in support of institutional/group profiling and marketing support services. The ability to collect and update this information on a regular basis represents a strategic advantage to your business.

First Light will automatically harvest all of the data that you need from any website on the Internet, including searchable databases. We will then put the harvested data in a form that you can use (usually an Excel Spreadsheet, Access or SQL Database). First Light can save your company thousands of hours of work that you would have spent manually collecting this data.

Uses for Web Data Mining

Data mining for customer and competitor information to support CRM applications.
Gathering large amounts of unstructured text for indexing, data mining and "fingerprinting" by advanced text analysis tools.
Content aggregation for enterprise information portals.
Harvesting competitive prices from on-line catalogs for revenue management and price optimization systems.
Watching competition - pricing, promotions, patents, hiring trends, SEC filings, licenses, expansion plans, etc.
Monitoring internet message boards, government databases, and corporate Web sites to spot market trends and find potential customers.
Automate scientific research by locating, extracting, and organizing information from multiple scientific information portals.
Track criminal and subversive activity on messages boards and organized crime portals.
Secondary market research - Collect public opinion from cyber forums about companies, products, and competitors.
Compliance - Internet monitoring of partners, resellers, and the gray market for resale authorization, price accuracy, logo usage, logo positioning, links to and from partner sites, intellectual property violations, etc.

Over time, this data collection process will generate a large number of data files. In addition, there can be multiple versions of the web scraping results arising from repeated visits to the targeted sites. As a result, you will be under increasing pressure to organize, track, access and distribute this information. To be most useful and marketable, this data should be consolidated in a centralized and easily accessible venue which must be up-to-date, and easily administered. The result is a true repository of information: searchable, secure, non-degradable, easily replicated and transmittable.

Data Mining Background

Take your business to the next level by adding data mining capabilities from First Light. Data Mining is a level of analysis that many professional organizations never manage to conceive of or implement. In today's highly competitive environments, however, the importance of data mining should not be minimized as it can provide a competitive advantage and enable your organization to maximize both its efficiency and effectiveness.

Data Mining is the process of analyzing data through proven mathematical algorithms to uncover patterns, correlations, and profiles that can only be seen by looking at the data set in total. These findings can be used to help you understand your business and customers better now and to improve future performance through predictive analytics. To help you fully utilize data mining for organizational advantage, First Light will work with your business to integrate data mining into your operation.

Why do Data Mining?

Provide insight into hidden patterns and relationships in your data

Go beyond the obvious to find information hidden in data you already collect that can only be discovered through data mining techniques.

Improve existing organizational performance

All organizations can benefit from using newly discovered patterns and correlations as the basis for taking action to improve their efficiency and effectiveness.

Provides a preview of future performance

With data mining from First Light you will be able to predict outcomes using historic data. For example, if the best indicator of whether a customer will pay on time turns out to be a combination of their market segment and whether or not they have paid previous bills on time, then this is information you can benefit from in making current financing decisions.

Make your business processes more robust

Use the data mining results to provide recommendations within operational situations. For example, on a loan processing screen you could add: "Based on this customer's account profile there is an 85% chance this customer will pay late. It is therefore recommended you require a 50% prepayment on this order".

Can be applied to any business process

First Light can help you apply data mining to any workflow defined in your business

Web Data Collection