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The term Web Data Miningis a technique used to crawl through various web resources to collectrequired information, which enables an individual or a company topromote business, understanding marketing dynamics, new promotionsfloating on the Internet, etc. There is a growing trend amongcompanies, organizations and individuals alike to gather informationthrough web data mining to utilize that information in their bestinterest.
Data Mining is done through varioustypes of data mining software. These can be simple data mining softwareor highly specific for detailed and extensive tasks that will besifting through more information to pick out finer bits of information.For example, if a company is looking for information on doctorsincluding their emails, fax, telephone, location, etc., thisinformation can be mined through one of these data mining softwareprograms. This information collection through data mining has allowedcompanies to make thousands and thousands of dollars in revenues bybeing able to better use the internet to gain business intelligencethat helps companies make vital business decisions.
Beforethis data mining software came into being, different businesses used tocollect information from recorded data sources. But the bulk of thisinformation is too much too daunting and time consuming to gather bygoing through all the records, therefore the approach of computer baseddata mining came into being and has gained huge popularity to nowbecome a necessity for the survival of most businesses.
Thiscollected information is used to gain more knowledge and based on thefindings and analysis of the information make predictions as to whatwould be the best choice and the right approach to move toward on aparticular issue. Web data mining is not only focused to gain businessinformation but is also used by various organizational departments tomake the right predictions and decisions for things like businessdevelopment, work flow, production processes and more by going throughthe business models derived from the data mining.
Astrategic analysis department can undermine their client archives withdata mining software to determine what offers they need to send to whatclients for maximum conversions rates. For example, a company isthinking about launching cotton shirts as their new product. Throughtheir client database, they can clearly determine as to how manyclients have placed orders for cotton shirts over the last year and howmuch revenue such orders have brought to the company.
Afterhaving a hold on such analysis, the company can make their decisionsabout which offers to send both to those clients who had placed orderson the cotton shirts and those who had not. This makes sure that theorganization heads in the right direction in their marketing and notgoes through a trial and error phase to learn the hard facts byspending money needlessly. These analytical facts also shed light as towhat the percentage of customers is who can move from your company toyour competitor.
The data mining alsoempowers companies to keep a record of fraudulent payments which canall be researched and studied through data mining. This information canhelp develop more advanced and protective methods that can beundertaken to prevent such events from happening. Buying trends shownthrough web data mining can help you to make forecast on yourinventories as well. This is a direct analysis, which will empower theorganization to fill in their stocks appropriately for each monthdepending on the predictions they have laid out through this analysisof buying trends.
The data mining technologyis going through a huge evolution and new and better techniques aremade available all the time to gather whatever information is required.Web data mining technology is opening avenues on not just gatheringdata but it is also raising a lot of concerns related to data security.There is loads of personal information available on the internet andweb data mining had helped to keep the idea of the need to secure thatinformation at the forefront.