Monday 30 September 2013

Web Scraper Shortcode WordPress Plugin Review

This short post is on the WP-plugin called Web Scraper Shortcode, that enables one to retrieve a portion of a web page or a whole page and insert it directly into a post. This plugin might be used for getting fresh data or images from web pages for your WordPress driven page without even visiting it. More scraping plugins and sowtware you can find in here.

To install it in WordPress go to Plugins -> Add New.
Usage

The plugin scrapes the page content and applies parameters to this scraped page if specified. To use the plugin just insert the

[web-scraper ]

shortcode into the HTML view of the WordPress page where you want to display the excerpts of a page or the whole page. The parameters are as follows:

    url (self explanatory)
    element – the dom navigation element notation, similar to XPath.
    limit – the maximum number of elements to be scraped and inserted if the element notation points to several of them (like elements of the same class).

The use of the plugin is of the dom (Data Object Model) notation, where consecutive dom nodes are stated like node1.node2; for example: element = ‘div.img’. The specific element scrape goes thru ‘#notation’. Example: if you want to scrape several ‘div’ elements of the class ‘red’ (<div class=’red’>…<div>), you need to specify the element attribute this way: element = ‘div#red’.
How to find DOM notation?

But for inexperienced users, how is it possible to find the dom notation of the desired element(s) from the web page? Web Developer Tools are a handy means for this. I would refer you to this paragraph on how to invoke Web Developer Tools in the browser (Google Chrome) and select a single page element to inspect it. As you select it with the ‘loupe’ tool, on the bottom line you’ll see the blue box with the element’s dom notation:


The plugin content

As one who works with web scraping, I was curious about  the means that the plugin uses for scraping. As I looked at the plugin code, it turned out that the plugin acquires a web page through ‘simple_html_dom‘ class:

    require_once(‘simple_html_dom.php’);
    $html = file_get_html($url);
    then the code performs iterations over the designated elements with the set limit

Pitfalls

    Be careful if you put two or more [web-scraper] shortcodes on your website, since downloading other pages will drastically slow the page load speed. Even if you want only a small element, the PHP engine first loads the whole page and then iterates over its elements.
    You need to remember that many pictures on the web are indicated by shortened URLs. So when such an image gets extracted it might be visible to you in this way: , since the URL is shortened and the plugin does not take note of  its base URL.
    The error “Fatal error: Call to a member function find() on a non-object …” will occur if you put this shortcode in a text-overloaded post.

Summary

I’d recommend using this plugin for short posts to be added with other posts’ elements. The use of this plugin is limited though.



Source: http://extract-web-data.com/web-scraper-shortcode-wordpress-plugin-review/

Friday 27 September 2013

Visual Web Ripper: Using External Input Data Sources

Sometimes it is necessary to use external data sources to provide parameters for the scraping process. For example, you have a database with a bunch of ASINs and you need to scrape all product information for each one of them. As far as Visual Web Ripper is concerned, an input data source can be used to provide a list of input values to a data extraction project. A data extraction project will be run once for each row of input values.

An input data source is normally used in one of these scenarios:

    To provide a list of input values for a web form
    To provide a list of start URLs
    To provide input values for Fixed Value elements
    To provide input values for scripts

Visual Web Ripper supports the following input data sources:

    SQL Server Database
    MySQL Database
    OleDB Database
    CSV File
    Script (A script can be used to provide data from almost any data source)

To see it in action you can download a sample project that uses an input CSV file with Amazon ASIN codes to generate Amazon start URLs and extract some product data. Place both the project file and the input CSV file in the default Visual Web Ripper project folder (My Documents\Visual Web Ripper\Projects).

For further information please look at the manual topic, explaining how to use an input data source to generate start URLs.


Source: http://extract-web-data.com/visual-web-ripper-using-external-input-data-sources/

Thursday 26 September 2013

Scraping Amazon.com with Screen Scraper

Let’s look how to use Screen Scraper for scraping Amazon products having a list of asins in external database.

Screen Scraper is designed to be interoperable with all sorts of databases and web-languages. There is even a data-manager that allows one to make a connection to a database (MySQL, Amazon RDS, MS SQL, MariaDB, PostgreSQL, etc), and then the scripting in screen-scraper is agnostic to the type of database.

Let’s go through a sample scrape project you can see it at work. I don’t know how well you know Screen Scraper, but I assume you have it installed, and a MySQL database you can use. You need to:

    Make sure screen-scraper is not running as workbench or server
    Put the Amazon (Scraping Session).sss file in the “screen-scraper enterprise edition/import” directory.
    Put the mysql-connector-java-5.1.22-bin.jar file in the “screen-scraper enterprise edition/lib/ext” directory.
    Create a MySQL database for the scrape to use, and import the amazon.sql file.
    Put the amazon.db.config file in the “screen-scraper enterprise edition/input” directory and edit it to contain proper settings to connect to your database.
    Start the screen scraper workbench

Since this is a very simple scrape, you just want to run it in the workbench (most of the time you want to run scrapes in server mode). Start the workbench, and you will see the Amazon scrape in there, and you can just click the “play” button.

Note that a breakpoint comes up for each item. It would be easy to save the scraped details to a database table or file if you want. Also see in the database the “id_status” changes as each item is scraped.

When the scrape is run, it looks in the database for products marked “not scraped”, so when you want to re-run the scrapes, you need to:

UPDATE asin
SET `id_status` = 0

Have a nice scraping! ))

P.S. We thank Jason Bellows from Ekiwi, LLC for such a great tutorial.


Source: http://extract-web-data.com/scraping-amazon-com-with-screen-scraper/

Tuesday 24 September 2013

Selenium IDE and Web Scraping

Selenium is a browser automation framework that includes IDE, Remote Control server and bindings of various flavors including Java, .Net, Ruby, Python and other. In this post we touch on the basic structure of the framework and its application to  Web Scraping.
What is Selenium IDE


Selenium IDE is an integrated development environment for Selenium scripts. It is implemented as a Firefox plugin, and it allows recording browsers’ interactions in order to edit them. This works well for software tests, composing and debugging. The Selenium Remote Control is a server specific for a particular environment; it causes custom scripts to be implemented for controlled browsers. Selenium deploys on Windows, Linux, and iOS. How various Selenium components are supported with major browsers read here.
What does Selenium do and Web Scraping

Basically Selenium automates browsers. This ability is no doubt to be applied to web scraping. Since browsers (and Selenium) support JavaScript, jQuery and other methods working with dynamic content why not use this mix for benefit in web scraping, rather than to try to catch Ajax events with plain code? The second reason for this kind of scrape automation is browser-fasion data access (though today this is emulated with most libraries).

Yes, Selenium works to automate browsers, but how to control Selenium from a custom script to automate a browser for web scraping? There are Selenium PHP and other language libraries (bindings) providing for scripts to call and use Selenium. It is possible to write Selenium clients (using the libraries) in almost any language we prefer, for example Perl, Python, Java, PHP etc. Those libraries (API), along with a server, the Java written server that invokes browsers for actions, constitute the Selenum RC (Remote Control). Remote Control automatically loads the Selenium Core into the browser to control it. For more details in Selenium components refer to here.


A tough scrape task for programmer

“…cURL is good, but it is very basic.  I need to handle everything manually; I am creating HTTP requests by hand.
This gets difficult – I need to do a lot of work to make sure that the requests that I send are exactly the same as the requests that a browser would
send, both for my sake and for the website’s sake. (For my sake
because I want to get the right data, and for the website’s sake
because I don’t want to cause error messages or other problems on their site because I sent a bad request that messed with their web application).  And if there is any important javascript, I need to imitate it with PHP.
It would be a great benefit to me to be able to control a browser like Firefox with my code. It would solve all my problems regarding the emulation of a real browser…
it seems that Selenium will allow me to do this…” -Ryan S

Yes, that’s what we will consider below.
Scrape with Selenium

In order to create scripts that interact with the Selenium Server (Selenium RC, Selenium Remote Webdriver) or create local Selenium WebDriver script, there is the need to make use of language-specific client drivers (also called Formatters, they are included in the selenium-ide-1.10.0.xpi package). The Selenium servers, drivers and bindings are available at Selenium download page.
The basic recipe for scrape with Selenium:

    Use Chrome or Firefox browsers
    Get Firebug or Chrome Dev Tools (Cntl+Shift+I) in action.
    Install requirements (Remote control or WebDriver, libraries and other)
    Selenium IDE : Record a ‘test’ run thru a site, adding some assertions.
    Export as a Python (other language) script.
    Edit it (loops, data extraction, db input/output)
    Run script for the Remote Control

The short intro Slides for the scraping of tough websites with Python & Selenium are here (as Google Docs slides) and here (Slide Share).
Selenium components for Firefox installation guide

For how to install the Selenium IDE to Firefox see  here starting at slide 21. The Selenium Core and Remote Control installation instructions are there too.
Extracting for dynamic content using jQuery/JavaScript with Selenium

One programmer is doing a similar thing …

1. launch a selenium RC (remote control) server
2. load a page
3. inject the jQuery script
4. select the interested contents using jQuery/JavaScript
5. send back to the PHP client using JSON.

He particularly finds it quite easy and convenient to use jQuery for
screen scraping, rather than using PHP/XPath.
Conclusion

The Selenium IDE is the popular tool for browser automation, mostly for its software testing application, yet also in that Web Scraping techniques for tough dynamic websites may be implemented with IDE along with the Selenium Remote Control server. These are the basic steps for it:

    Record the ‘test‘ browser behavior in IDE and export it as the custom programming language script
    Formatted language script runs on the Remote Control server that forces browser to send HTTP requests and then script catches the Ajax powered responses to extract content.

Selenium based Web Scraping is an easy task for small scale projects, but it consumes a lot of memory resources, since for each request it will launch a new browser instance.



Source: http://extract-web-data.com/selenium-ide-and-web-scraping/

Monday 23 September 2013

Data Discovery vs. Data Extraction

Looking at screen-scraping at a simplified level, there are two primary stages involved: data discovery and data extraction. Data discovery deals with navigating a web site to arrive at the pages containing the data you want, and data extraction deals with actually pulling that data off of those pages. Generally when people think of screen-scraping they focus on the data extraction portion of the process, but my experience has been that data discovery is often the more difficult of the two.

The data discovery step in screen-scraping might be as simple as requesting a single URL. For example, you might just need to go to the home page of a site and extract out the latest news headlines. On the other side of the spectrum, data discovery may involve logging in to a web site, traversing a series of pages in order to get needed cookies, submitting a POST request on a search form, traversing through search results pages, and finally following all of the "details" links within the search results pages to get to the data you're actually after. In cases of the former a simple Perl script would often work just fine. For anything much more complex than that, though, a commercial screen-scraping tool can be an incredible time-saver. Especially for sites that require logging in, writing code to handle screen-scraping can be a nightmare when it comes to dealing with cookies and such.

In the data extraction phase you've already arrived at the page containing the data you're interested in, and you now need to pull it out of the HTML. Traditionally this has typically involved creating a series of regular expressions that match the pieces of the page you want (e.g., URL's and link titles). Regular expressions can be a bit complex to deal with, so most screen-scraping applications will hide these details from you, even though they may use regular expressions behind the scenes.

As an addendum, I should probably mention a third phase that is often ignored, and that is, what do you do with the data once you've extracted it? Common examples include writing the data to a CSV or XML file, or saving it to a database. In the case of a live web site you might even scrape the information and display it in the user's web browser in real-time. When shopping around for a screen-scraping tool you should make sure that it gives you the flexibility you need to work with the data once it's been extracted.




Source: http://ezinearticles.com/?Data-Discovery-vs.-Data-Extraction&id=165396

Top Data Mining Tools

Data mining is important because it means pulling out critical information from vast amounts of data. The key is to find the right tools used for the expressed purposes of examining data from any number of viewpoints and effectively summarize it into a useful data set.

Many of the tools used to organize this data have become computer based and are typically referred to as knowledge discovery tools.

Listed below are the top data mining tools in the industry:

    Insightful Miner - This tool has the best selection of ETL functions of any data mining tool on the market. This allows the merging, appending, sorting and filtering of data.
    SQL Server 2005 Data Mining Add-ins for Office 2007 - These are great add-ins for taking advantage of SQL Server 2005 predictive analytics in Office Excel 2007 and Office Visio 2007. The add-ins Allow you to go through the entire development lifecycle within Excel 2007 by using either a spreadsheet or external data accessible through your SQL Server 2005 Analysis Services instance.
    Rapidminder - Also known as YALE is a pretty comprehensive and arguably world-leading when it comes to an open-source data mining solution. it is widely used from a large number of companies an organizations. Even though it is open-source, this tool, out of the box provides a secure environment and provides enterprise capable support and services so you will not be left out in the cold.

The list is short but ever changing in order to meet the increasing demands of companies to provide useful information from years of data.

TonyRocks.com in Pittsburgh Pennsylvania is one of only a few companies in the region that offer data tools an strategies.

They also keep a nice and updated list of the the latest on new tools in integration strategies for your organization.




Source: http://ezinearticles.com/?Top-Data-Mining-Tools&id=1380551

Friday 20 September 2013

Outsource Data Mining Services to Offshore Data Entry Company

Companies in India offer complete solution services for all type of data mining services.

Data Mining Services and Web research services offered, help businesses get critical information for their analysis and marketing campaigns. As this process requires professionals with good knowledge in internet research or online research, customers can take advantage of outsourcing their Data Mining, Data extraction and Data Collection services to utilize resources at a very competitive price.

In the time of recession every company is very careful about cost. So companies are now trying to find ways to cut down cost and outsourcing is good option for reducing cost. It is essential for each size of business from small size to large size organization. Data entry is most famous work among all outsourcing work. To meet high quality and precise data entry demands most corporate firms prefer to outsource data entry services to offshore countries like India.

In India there are number of companies which offer high quality data entry work at cheapest rate. Outsourcing data mining work is the crucial requirement of all rapidly growing Companies who want to focus on their core areas and want to control their cost.

Why outsource your data entry requirements?

Easy and fast communication: Flexibility in communication method is provided where they will be ready to talk with you at your convenient time, as per demand of work dedicated resource or whole team will be assigned to drive the project.

Quality with high level of Accuracy: Experienced companies handling a variety of data-entry projects develop whole new type of quality process for maintaining best quality at work.

Turn Around Time: Capability to deliver fast turnaround time as per project requirements to meet up your project deadline, dedicated staff(s) can work 24/7 with high level of accuracy.

Affordable Rate: Services provided at affordable rates in the industry. For minimizing cost, customization of each and every aspect of the system is undertaken for efficiently handling work.

Outsourcing Service Providers are outsourcing companies providing business process outsourcing services specializing in data mining services and data entry services. Team of highly skilled and efficient people, with a singular focus on data processing, data mining and data entry outsourcing services catering to data entry projects of a varied nature and type.

Why outsource data mining services?

360 degree Data Processing Operations
Free Pilots Before You Hire
Years of Data Entry and Processing Experience
Domain Expertise in Multiple Industries
Best Outsourcing Prices in Industry
Highly Scalable Business Infrastructure
24X7 Round The Clock Services

The expertise management and teams have delivered millions of processed data and records to customers from USA, Canada, UK and other European Countries and Australia.

Outsourcing companies specialize in data entry operations and guarantee highest quality & on time delivery at the least expensive prices.

Herat Patel, CEO at 3Alpha Dataentry Services possess over 15+ years of experience in providing data related services outsourced to India.

Visit our Facebook Data Entry profile for comments & reviews.

Our services helps to convert any kind of  hard copy sources, our data mining services helps to collect business contacts, customer contact, product specifications etc., from different web sources. We promise to deliver the best quality work and help you excel in your business by focusing on your core business activities. Outsource data mining services to India and take the advantage of outsourcing and save cost.




Source: http://ezinearticles.com/?Outsource-Data-Mining-Services-to-Offshore-Data-Entry-Company&id=4027029

Data Mining, Visual Analytics, and The Human Component!

With all the massive amounts of data we are collecting from the Internet, well, it is just amazing the things we can do with it all. Of course, those concerned about privacy, well, you can understand why organizations like the Electronic Freedom Foundation is often fit to be tied. Still, think of all the good that can become of all this data? Let me explain.

You see, with the right use of visual analytics and various data mining strategies, we will be able to do nearly anything we need too. And, yes, I guess it goes without saying that I have a ton of thoughts on Visual Analytics of the Internet, Mobile Ad Hoc networking, and Social Networks along with some concepts for DARPAs plan for "crowd sourcing" innovation, it makes perfect sense to me, as each participant becomes basically a "neuron" and we use the natural neural network scheme.

What we need is a revolution in data mining visual analytics, so the other day I spent 20-minutes considering this and here are my thoughts. I propose an entirely new concept herein. Okay so let me explain my concept. But first let me briefly describe the bits and pieces of ideas and concepts I borrowed from to come up with this;

    There is an only UFO or Sci Fi tale I read, where the alien race said; "There is a whole new world waiting for you if you dare to take it,"
    Taking the "it" part of that line and calling "it" = "IT" as in Information Technologies.
    Next, combining that "IT" or "It entity" with that old Christian apocalyptic "mark of the beast" and the old computer system in Belgium 30-years ago claiming to be big enough to track every world transaction, also nick-named the beast.
    Then combining that concept with V. Bush's concept of "recording a life" or the later "life log theory" from Bell Labs.
    Then using the concept of the eRepublic, where government is nothing more than a networked website.
    Then considering the thought of Bill Gate's concepts in "the Road Ahead" where the digital nervous system of a corporation was completely and fully integrated.
    Combined with SAPs, and Oracles enterprise solutions
    Combined with Google's data bases
    Combined with the Pangaea Project for kids to collaborate in elementary school around the world and programming the AI computer, using a scheme designed by Carnegie Mellon to crowd source the teaching of an AI system. "eLearning Collaborative Networks like Quorum or Pangaea"
    Combined with IBMs newest mind map visualization recently in the news..
    Combined with these following thoughts of mine:

    My Book; "The Future of Truck Technologies," and 3D and 4D Transportation Computer Modeling; Page; 201.
    My Book; "Holographic Technologies," specifically; Data Visualization Schemes; Page 57 Chapter 5.
    My Article on 3D and 4D Mind Maps for Tracking and Analyzing.
    My Article on Mind Maps of the Future and Online style Think Tanks
    My Article on Stair Step Mentorship for Human Learning in the Future and Never Aging Societies.

Okay now let me explain the premise of my concept for Visual Analytics;

First, forget this whole idea of a 2D mind mapping concept or chart used to show links between terrorist players, cells, assets, acquaintances, etc., the way it is laid out currently - make it 3D, actually make it 4D and 5D where some layers can only be seen by a select few, and let's say a 6D level that can only be accessed by an AI super computer [why; because I don't trust humans, they can't be trusted, i.e. WikiLeak, leaker for instance].

Next ALL the data is stored within in the sphere. But to access the data on the outer side of the sphere, picture Earth's surface, the ball or sphere (with grids like a map of the globe) rolls around on a giant grid paper. When you want to look at a particular event, person, subject, or whatever, a particular point on the sphere's grid touches a corresponding point on the grid paper it rolls on, the grid paper it rolls on can wrap around and morph itself to the sphere or contour itself so the next corresponding piece of information on the surface can be accessed, rolling or spinning.

Picture a selectric typewriter ball on a shaft as a 2D model to consider this, now make it all 3D in your mind, and the paper molds around the sphere as it accesses, or in the case of a selectric typewriter it types. Now the Sphere is hollow inside containing layers, just like the earth, crust, mantel, and core. Information goes deep or across, every piece of information is connected, think about the earliest string theory models for this.

Great thing about my visualization concept is I believe all this math exists, even though in reality string theory is mostly bunk, but the math to get there makes this possible. As the information goes deep, think about the iPad touch screen, or the Microsoft restaurant "menu on a table" concept, or the depictions of Minority Reports, moving of the screens by way of motion gestures, I believe Lockheed also has this concept up and running for air-traffic control systems, prototype versions, perhaps the military is already using it, as it has massive applications for the net centric battlespace visualization too.

Okay so, some levels go through a frame-burst scenario taking you into another level, where the data generally stored at the almost infinite number of grid points and cross connected to every other is nothing more than a nucleus with additional data spinning around it. But the user cannot access all that information, without clearances, the AI system has access to all of it, while a sorting system is a series of search features within search features, with non-linked data also. You can't break into it; it's not connected to the users' interface at all, think of the hidden data as electrons unattached around the data. The data is known to exist but cannot be accessed that would be the 5D level, and 6D level no human may get too, but the data exists.

You know that surfer dude in Hawaii that came up with the "Grand Theory of the Universe" why not use his model for our visualization, in spherical form, again, the mathematics for all this already exists.

You see, what I need is a way to find people like me, I want to find these thinkers and innovators to take it all to the next level, and if the visualization is there, we can find; The Good Guys, Bad Guys, and the Future all at once. Why do I want a "Neural Network" visualization system in a sphere? It seems to me that this is how the brain does things, and what we are doing here is creating a Collective Brain, using each individual assigned to an "ever-expanding" unit of data, along a carrier or flow.

Remember when Microsoft Labs came out with that really cool way to travel through the Universe and look at all the celestial bodies along the way, using all the Hubble Pictures collected? It's kind of like that, you travel to the information, discover as you travel and it piques your curiosity as you go triggering your own brain waves, and splashing the users minds with chemical rewards as they go, as they discover more information, expanding their understanding as well, it just seems to me this is how it all works anyway.

Think of that old Sci Fiction concept where the Earth and our solar system are merely an atom of a chemical compound within a cell of the human body, all we can see is all the other compounds around us because everything is so small, thus, we cannot see the whole picture and what appears to be an entire universe would only be a few thousand cells close enough for us to see. And time itself is slow, as the electrons or planets moving around the atom appears to take a year to circle the nucleus instead of 10,000 times a second.

So, combining all these types of thoughts, this is how I envision how the future visualization tools would work.

Now then, using the whole concept of connecting the dots for information or even building an AI search feature scouring the system at speeds of terabytes a second, the AI computer can become the innovator, thanks to the user asking the question, and all the neurons (individual humans) with all their data putting in the information. You just need the best questions, you get instance answers.

Okay so, take this concept one step further; the AI super computer's operation is a "brain wave" and that brain wave is assigned a number, you can have as many brain waves, as the internet has IP addresses, with whatever scheme for that you choose. And your query can search the former queries too. The user's questions are as important as the data itself.

Thus, it helps us find the innovators, the question askers, once we know that, we have the opportunity for unlimited instant knowledge. Data visualization can take us there, and it removes all the fog of uncertainty, and answers most all the questions we could ever hope to ask, and comes up with its own questions as well. Does this make sense?

This is the type of visualization I need to faster access information, and I can solve all the problems, even the ones humans refuse to solve, or doom themselves to repeateth. That's my preliminary thought on this - may we start such a dialogue on the topic? If so, email me, and I hope you enjoyed today's dialogue?

Lance Winslow is the Founder of the Online Think Tank, a diverse group of achievers, experts, innovators, entrepreneurs, thinkers, futurists, academics, dreamers, leaders, and general all around brilliant minds. Lance Winslow hopes you've enjoyed today's discussion and topic. http://www.WorldThinkTank.net - Have an important subject to discuss, contact Lance Winslow.



Source: http://ezinearticles.com/?Data-Mining,-Visual-Analytics,-and-The-Human-Component!&id=4817019

Wednesday 18 September 2013

Using Charts For Effective Data Mining

The modern world is one where data is gathered voraciously. Modern computers with all their advanced hardware and software are bringing all of this data to our fingertips. In fact one survey says that the amount of data gathered is doubled every year. That is quite some data to understand and analyze. And this means a lot of time, effort and money. That is where advancements in the field of Data Mining have proven to be so useful.

Data mining is basically a process of identifying underlying patters and relationships among sets of data that are not apparent at first glance. It is a method by which large and unorganized amounts of data are analyzed to find underlying connections which might give the analyzer useful insight into the data being analyzed.

It's uses are varied. In marketing it can be used to reach a product to a particular customer. For example, suppose a supermarket while mining through their records notices customers preferring to buy a particular brand of a particular product. The supermarket can then promote that product even further by giving discounts, promotional offers etc. related to that product. A medical researcher analyzing D.N.A strands can and will have to use data mining to find relationships existing among the strands. Apart from bio-informatics, data mining has found applications in several other fields like genetics, pure medicine, engineering, even education.

The Internet is also a domain where mining is used extensively. The world wide web is a minefield of information. This information needs to be sorted, grouped and analyzed. Data Mining is used extensively here. For example one of the most important aspects of the net is search. Everyday several million people search for information over the world wide web. If each search query is to be stored then extensively large amounts of data will be generated. Mining can then be used to analyze all of this data and help return better and more direct search results which lead to better usability of the Internet.

Data mining requires advanced techniques to implement. Statistical models, mathematical algorithms or the more modern machine learning methods may be used to sift through tons and tons of data in order to make sense of it all.

Foremost among these is the method of charting. Here data is plotted in the form of charts and graphs. Data visualization, as it is often referred to is a tried and tested technique of data mining. If visually depicted, data easily reveals relationships that would otherwise be hidden. Bar charts, pie charts, line charts, scatter plots, bubble charts etc. provide simple, easy techniques for data mining.

Thus a clear simple truth emerges. In today's world of heavy load data, mining it is necessary. And charts and graphs are one of the surest methods of doing this. And if current trends are anything to go by the importance of data mining cannot be undermined in any way in the near future.




Source: http://ezinearticles.com/?Using-Charts-For-Effective-Data-Mining&id=2644996

How To Make The Most of Your Data

Effective use of data mining tools require a great interface. No matter what data mining system you use, you'll need to work through an interface to get the information you need. In choosing a data mining tool, the reliability, ease of use and flexibility of data outputs should be key components in your decision. Essentially, you're in need of a business intelligence solution that includes data mining tools for accurate output of data in an easy-to-understand format. Understanding what data mining is will help you decide if its necessary for your business.

Data mining is the process of extracting patterns from large data sets by combining methods of statistics and "if then, then that" artificial intelligence with a database. So, firstly, if you have large databases, in multiple places, and you need to be able to sift through that data to find relevant information for your day to day operation, then yes, you need a data mining tool.

Data mining tools are typically found within business intelligence software but require some intrinsic customization to make the data sorting applicable to your unique work environment. For example, many large police departments have opted to use business intelligence solutions simply because they have massive amounts of data to sort through during any given day. Those sources of data can be from related government agencies for child welfare or fraud benefits crime cases. In addition, that data could also come from historical history of activities in a local area, records of attendees to those events, crimes based out of those events and so on. Imagine the multitude of data to sort through in order to make a judgment on which direction to investigate to solve a single crime. It's virtually impossible without the use of data mining technology.

Data mining tools to have the capability to handle all types of input and output data such as text, video feed, sound feed, email, text messages, other computer systems, and your website. Depending on your needs and your company operations, you have to determine what data will come into the tool and how the information will be crunched, sorted, filter and how it will be presented. In addition, serious consideration must be in place to prevent erroneous data. Bad data in is bad data out. For example, validity checks such as 10 digit phone numbers and birth years are within a certain reasonable range are verified before being accepted into the data system. Once the data has been verified and crunched via the data mining tool according to your specifications, the business intelligence software will help determine how that data is represented. Without being able to understand data, it holds no value to the consumer. Therefore, visual representation of data is a modern approach to the old fashioned, lines of excel spreadsheets.

Data can be mapped, graphed or superimposed over a supporting image. Back to the example for law enforcement officers. A map of past crimes that occurred during daylight hours can be superimposed over a map of crimes that occurred at night. For any officer, who is not experienced in any data mining techniques, would immediately be able to see if the same type crimes travel depending on day or night. In addition, visually predicted areas of crime based on data analysis from the business intelligence software would highlight where additional resources are needed to deter crime before it even happens. For small to large police departments, this availability of data crunched down into usable information is what takes the guess work out crime fighting.

Carefully consider how much time, personnel and cost is involved in sorting through relevant and irrelevant data in order to get the information that is valuable for your organization. If you're still doing things the old fashioned way of gut feeling and simple spreadsheets, you might want to consider upgrading your technology to a business intelligence solution suite. Even though the initial investment might be somewhat costly, the long term advantages include faster and better data results that can take the guesswork out of day to day operations.

Beyond Insight Inc [http://www.beyondinsightinc.com] is a business intelligence solutions company that is dedicated to truly empowering organizations of any size with capabilities and tools to perform optimally. By leveraging comprehensive and powerful business intelligence solutions, Beyond Insight Inc provides the perfect blend of people, processes and technology.




Source: http://ezinearticles.com/?How-To-Make-The-Most-of-Your-Data&id=6198886

Monday 16 September 2013

How Is Data Capture Used Effectively in 2013?

Firstly, a brief introduction for those who don't know what it is, data capture is a method of extracting information from forms and surveys that have been filled out by people either by hand or digitally. So if someone has filled in a survey or form, they can be scanned and captured and the extracted information used for its original purpose, for research, and using an actual data capture service can save a considerable amount of time doing the work by hand.

That's the basic gist of what data capture is whether for forms, surveys or other documents that need their data entracting and although there has been a standard use for data capture since it was picked up as a useful and popular service but it is also being used for many other reasons in 2013.

Along with general marketing and research techniques, the data capture of forms has had to change and adapt to changing attitudes throughout the world. In 2012 and into 2013 more and more business cards are being captured and their details including phone numbers, email addresses and other important are captured and put into databases so they can be used effectively in the future for a mixture of mailing lists and email marketing. However there's another side of business card capture where a lot of restaurants and entertainment establishments are offering a raffle for those who leave their business cards behind in a jar so that the eventual winner wins a prize and they can use all data from business card for marketing purposes. You may think it's a difficult and expensive process to capture business card data due to their different layouts and order, but it's a lot simpler than it seems especially using automated or automatic data capture.

Form data capture has also now been picked up by health organisations such as the NHS in order to survey patients and staff on their opinions on their service. As one of the most scrutinised and monitored service providers in the UK, they need to stay on the top of their game as all times and this is one way of checking up on the satisfaction of their users. However they receive thousands of these feedback forms at any given moment so can't all be input manually so they outsource in order to gather this information into easily manageable data and presentations so they can browse through the data with ease and get down to the bottom of any problems or see where they are exceeding expectations.

As such, data capture has become a service that extends beyond market research companies and marketing firms, but is now an essential tool in order to gain an insight into issues as well as for general feedback. As the businesses across the world are subject to more scrutiny and higher expectations, it's almost become a requirement to be the best you possibly can be and even more besides. Going the extra mile.

People as a whole are still more likely to fill out a paper-based form than one sent to them online or if they're given a link to go to. So whilst some things change over time such as the use of this particular service, some things don't, however the results provided are more accurate than ever before, in 2013 and beyond.

Form data capture has changed in its overall methods, however with that and the improvement of automated technology prices have lowered with them. These days no matter what sector you're in, data capture of forms of all varieties is an essential weapon to have in your arsenal.



Source: http://ezinearticles.com/?How-Is-Data-Capture-Used-Effectively-in-2013?&id=7853300

Sunday 15 September 2013

Know What the Truth Behind Data Mining Outsourcing Service

We came to that, what we call the information age where industries are like useful data needed for decision-making, the creation of products - among other essential uses for business. Information mining and converting them to useful information is a part of this trend that allows companies to reach their optimum potential. However, many companies that do not meet even one deal with data mining question because they are simply overwhelmed with other important tasks. This is where data mining outsourcing comes in.

There have been many definitions to introduced, but it can be simply explained as a process that involves sorting through large amounts of raw data to extract valuable information needed by industries and enterprises in various fields. In most cases this is done by professionals, professional organizations and financial analysts. He has seen considerable growth in the number of sectors or groups that enter my self.
There are a number of reasons why there is a rapid growth in data mining outsourcing service subscriptions. Some of them are presented below:

A wide range of services

Many companies are turning to information mining outsourcing, because they cover a wide range of services. These services include, but are not limited to data from web applications congregation database, collect contact information from different sites, extract data from websites using the software, the sort of stories from sources news, information and accumulate commercial competitors.

Many companies fall

Many industries benefit because it is fast and realistic. The information extracted by data mining service providers of outsourcing used in crucial decisions in the field of direct marketing, e-commerce, customer relationship management, health, scientific tests and other experimental work, telecommunications, financial services, and a whole lot more.

A lot of advantages

Subscribe data mining outsourcing services it's offers many benefits, as providers assures customers to render services to world standards. They strive to work with improved technologies, scalability, sophisticated infrastructure, resources, timeliness, cost, the system safer for the security of information and increased market coverage.

Outsourcing allows companies to focus their core business and can improve overall productivity. Not surprisingly, information mining outsourcing has been a first choice of many companies - to propel the business to higher profits.

In this Article Author wants to tell about Data mining services and truth behind Data Mining Outsourcing Service.




Source: http://ezinearticles.com/?Know-What-the-Truth-Behind-Data-Mining-Outsourcing-Service&id=5303589

Friday 13 September 2013

Data Mining - Retrieving Information From Data

Data mining definition is the process of retrieving information from data. It has become very important now days because data that is processed is usually kept for future reference and mainly for security purposes in a company. Data transforms is processed into information and it is mostly used in different ways depending on what information one is extracting and from where the person is extracting the information.

It is commonly used in marketing, scientific information and research work, fraud detection and surveillance and many more and most of this work is done using a computer. This definition can come in different terms data snooping, data fishing and data dredging all this refer to data mining but it depends in which department one is. One must know data mining definition so that he can be in a position to make data.

The method of data mining has been there for so many centuries and it is used up to date. There were early methods which were used to identify data mining there are mainly two: regression analysis and bayes theorem. These methods are never used now days because a lot of people have advanced and technology has really changed the entire system.

With the coming up or with the introduction of computers and technology, it becomes very fast and easy to save information. Computers have made work easier and one can be able to expand more knowledge about data crawling and learn on how data is stored and processed through computer science.

Computer science is a course that sharpens one skill and expands more about data crawling and the definition of what data mining means. By studying computer science one can be in a position to know: clustering, support vector machines and decision trees there are some of the units that are found on computer science.

It's all about all this and this knowledge must be applied here. Government institutions, small scale business and supermarkets use data.

The main reason most companies use data mining is because data assist in the collection of information and observations that a company goes through in their daily activity. Such information is very vital in any companies profile and needs to be checked and updated for future reference just in case something happens.

Businesses which use data crawling focus mainly on return of investments, and they are able to know whether they are making a profit or a loss within a very short period. If the company or the business is making a profit they can be in a position to give customers an offer on the product in which they are selling so that the business can be a position to make more profit in an organization, this is very vital in human resource departments it helps in identifying the character traits of a person in terms of job performance.

Most people who use this method believe that is ethically neutral. The way it is being used nowadays raises a lot of questions about security and privacy of its members. Data mining needs good data preparation which can be in a position to uncover different types of information especially those that require privacy.

A very common way in this occurs is through data aggregation.

Data aggregation is when information is retrieved from different sources and is usually put together so that one can be in a position to be analyze one by one and this helps information to be very secure. So if one is collecting data it is vital for one to know the following:

    How will one use the data that he is collecting?
    Who will mine the data and use the data.
    Is the data very secure when am out can someone come and access it.
    How can one update the data when information is needed
    If the computer crashes do I have any backup somewhere.

It is important for one to be very careful with documents which deal with company's personal information so that information cannot easily be manipulated.

Victor Cases has many hobbies and interests. As well being a keen blogger and article writer for many sites, he has also recently created a site focusing on data mining definition. The site is constantly being updated and has articles such as data mining to read.



Source: http://ezinearticles.com/?Data-Mining---Retrieving-Information-From-Data&id=5054887

Thursday 12 September 2013

Data Mining and Its Impact on Business

Today, businesses are collecting more information that is available in a variety of formats. This includes: operational data, sales reports, customer data, inventory lists, forecast data, etc. In order to effectively manage and grow the business, all of the data gathered requires effective management and analysis. One such way of controlling the vast amount of information flow is a process called Data Mining.

Data mining is the process of taking a large amount of data and analyzing it from a variety of angles and putting into a format that makes it useful information to help a business improve operations, reduce costs, boost revenue, and make better business decisions. Today, effective data mining software has developed to help a business to collect and analyze useful information.

This process allows a business to collect data from a variety of sources, analyze the data using software, load the information into a database, store the information, and provide analyzed data in a useful format such as a report, table, or graph. As it relates to business analysis and business forecasting, the information analyzed is classified to determine important patterns and relationships. The idea is to identify relationships, patterns, and correlations from a broad number of different angles from a large database. These kinds of software and techniques allow a business easy access to a much simpler process which makes it more lucrative.

Data mining works allows a company to use the information to maintain competitiveness in a highly competitive business world. For instance, a company may be collecting a large volume of information from various regions of the country such as a consumer national survey. The software can compile the mined data, categorize it, and analyze it, to reveal a host of useful information that a marketer can use for marketing strategies. The outcome of the process should be an effective business analysis that allows a company to fully understand the information in order to make accurate business decisions that contributes to the success of the business. An example of a very effective use of data mining is acquiring a large amount of grocery store scanner data and analyzing it for market research. Data mining software allows for statistical analysis, data processing, and categorization, which all helps achieve accurate results.

It is mostly used by businesses with a strong emphasis on consumer information such shopping habits, financial analysis, marketing assessments...etc. It allows a business to determine key factors such as demographics, product positioning, competition, pricing, customer satisfaction, sales, and business expenditures. The result is the business is able to streamline its operations, develop effective marketing plans, and generate more sales. The overall impact is an increase in revenue and increased profitability.

For retailers, this process allows them to use of sales transactions to develop targeted marketing campaigns based on their customers shopping habits. Today, mining applications and software are available on all system sizes and platforms. For instance, the more information that has to be gathered and processed, the bigger the database. As well, the type of software a business will use depends on how complicated the data mining project. The more multifaceted the queries and the more queries performed, the more powerful system will be needed.

When a business harnesses the power of this system, they are able to gain important knowledge that will help them not only develop effective marketing strategies leading to better business decisions, but it will help identify future trends in their particular industry. Data mining has become an essential tool to help businesses gain a competitive edge.

Managing your organization well is critical - by using data mining software and being on top of performance management systems, you can ensure that your organization's information technology is up to par!




Source: http://ezinearticles.com/?Data-Mining-and-Its-Impact-on-Business&id=4528755

Tuesday 10 September 2013

Data Mining Process - Why Outsource Data Mining Service?

Overview of Data Mining and Process:
Data mining is one of the unique techniques for investigating information to extract certain data patterns and decide to outcome of existing requirements. Data mining is widely use in client research, services analysis, market research and so on. It is totally based on mathematical algorithm and analytical skills to drive the desired results from the huge database collection.

Information mining is mostly used by financial analyzer, business and professional organization and also there are many growing area of business that are get maximum advantages of data extract with use of data warehouses in their small to large level of businesses.

Most of functionalities which are used in information collecting process define as under:

* Retrieving Data

* Analyzing Data

* Extracting Data

* Transforming Data

* Loading Data

* Managing Databases

Most of small, medium and large levels of businesses are collect huge amount of data or information for analysis and research to develop business. Such kind of large amount will help and makes it much important whenever information or data required.

Why Outsource Data Online Mining Service?

Outsourcing advantages of data mining services:
o Almost save 60% operating cost
o High quality analysis processes ensuring accuracy levels of almost 99.98%
o Guaranteed risk free outsourcing experience ensured by inflexible information security policies and practices
o Get your project done within a quick turnaround time
o You can measure highly skilled and expertise by taking benefits of Free Trial Program.
o Get the gathered information presented in a simple and easy to access format

Thus, data or information mining is very important part of the web research services and it is most useful process. By outsource data extraction and mining service; you can concentrate on your co relative business and growing fast as you desire.

Outsourcing web research is trusted and well known Internet Market research organization having years of experience in BPO (business process outsourcing) field.

If you want to more information about data mining services and related web research services, then contact us.



Source: http://ezinearticles.com/?Data-Mining-Process---Why-Outsource-Data-Mining-Service?&id=3789102

What's Your Excuse For Not Using Data Mining?

In an earlier article I briefly described how data mining and RFM analysis can help marketers be more efficient (read... increased marketing ROI!). These marketing analytics tools can significantly help with all direct marketing efforts (multichannel campaign management efforts using direct mail, email and call center) and some interactive marketing efforts as well. So, why aren't all companies using it today? Well, typically it comes down to a lack of data and/or statistical expertise. Even if you don't have data mining expertise, YOU can benefit from data mining by using a consultant. With that in mind, let's tackle the first problem -- collecting and developing the data that is useful for data mining.

The most important data to collect for data mining include:

oTransaction data - For every sale, you at least need to know the product and the amount and date of the purchase.

oPast campaign response data - For every campaign you've run, you need to identify who responded and who didn't. You may need to use direct and indirect response attribution.

oGeo-demographic data - This is optional, but you may want to append your customer file/database with consumer overlay data from companies like Acxiom.

oLifestyle data - This is also an optional append of indicators of socio-economic lifestyle that are developed by companies like Claritas. All of the above data may or may not exist in the same data source. Some companies have a single holistic view of the customer in a database and some don't. If you don't, you'll have to make sure all data sources that contain customer data have the same customer ID/key. That way, all of the needed data can be brought together for data mining.

How much data do you need for data mining? You'll hear many different answers, but I like to have at least 15,000 customer records to have confidence in my results.

Once you have the data, you need to massage it to get it ready to be "baked" by your data mining application. Some data mining applications will automatically do this for you. It's like a bread machine where you put in all the ingredients -- they automatically get mixed, the bread rises, bakes, and is ready for consumption! Some notable companies that do this include KXEN, SAS, and SPSS. Even if you take the automated approach, it's helpful to understand what kinds of things are done to the data prior to model building.

Preparation includes:

oMissing data analysis. What fields have missing values? Should you fill in the missing values? If so, what values do you use? Should the field be used at all?

oOutlier detection. Is "33 children in a household" extreme? Probably - and consequently this value should be adjusted to perhaps the average or maximum number of children in your customer's households.

oTransformations and standardizations. When various fields have vastly different ranges (e.g., number of children per household and income), it's often helpful to standardize or normalize your data to get better results. It's also useful to transform data to get better predictive relationships. For instance, it's common to transform monetary variables by using their natural logs.

oBinning Data. Binning continuous variables is an approach that can help with noisy data. It is also required by some data mining algorithms.



Source: http://ezinearticles.com/?Whats-Your-Excuse-For-Not-Using-Data-Mining?&id=3576029

Sunday 8 September 2013

Importance of Data Mining Services in Business

Data mining is used in re-establishment of hidden information of the data of the algorithms. It helps to extract the useful information starting from the data, which can be useful to make practical interpretations for the decision making.
It can be technically defined as automated extraction of hidden information of great databases for the predictive analysis. In other words, it is the retrieval of useful information from large masses of data, which is also presented in an analyzed form for specific decision-making. Although data mining is a relatively new term, the technology is not. It is thus also known as Knowledge discovery in databases since it grip searching for implied information in large databases.
It is primarily used today by companies with a strong customer focus - retail, financial, communication and marketing organizations. It is having lot of importance because of its huge applicability. It is being used increasingly in business applications for understanding and then predicting valuable data, like consumer buying actions and buying tendency, profiles of customers, industry analysis, etc. It is used in several applications like market research, consumer behavior, direct marketing, bioinformatics, genetics, text analysis, e-commerce, customer relationship management and financial services.

However, the use of some advanced technologies makes it a decision making tool as well. It is used in market research, industry research and for competitor analysis. It has applications in major industries like direct marketing, e-commerce, customer relationship management, scientific tests, genetics, financial services and utilities.

Data mining consists of major elements:

    Extract and load operation data onto the data store system.
    Store and manage the data in a multidimensional database system.
    Provide data access to business analysts and information technology professionals.
    Analyze the data by application software.
    Present the data in a useful format, such as a graph or table.

The use of data mining in business makes the data more related in application. There are several kinds of data mining: text mining, web mining, relational databases, graphic data mining, audio mining and video mining, which are all used in business intelligence applications. Data mining software is used to analyze consumer data and trends in banking as well as many other industries.



Source: http://ezinearticles.com/?Importance-of-Data-Mining-Services-in-Business&id=2601221

Friday 6 September 2013

Data Management Services

In recent studies it has been revealed that any business activity has astonishing huge volumes of data, hence the ideas has to be organized well and can be easily gotten when need arises. Timely and accurate solutions are important in facilitating efficiency in any business activity. With the emerging professional outsourcing and data organizing companies nowadays many services are offered that matches the various kinds of managing the data collected and various business activities. This article looks at some of the benefits that accrue of offered by the professional data mining companies.

Entering of data

These kinds of services are quite significant since they help in converting the data that is needed in high ideal and format that is digitized. In internet some of this data can found that is original and handwritten. In printed paper documents and or text are not likely to contain electronic or needed formats. The best example in this context is books that need to be converted to e-books. In insurance companies they also depend on this process in processing the claims of insurance and at the same time apply to the law firms that offer support to analyze and process legal documents.

EDC

That is referred to as electronic data. This method is mostly used by clinical researchers and other related organization in medical. The electronic data and capture methods are used in the utilization in managing trials and research. The data mining and data management services are given in upcoming databases for studies. The ideas contained can easily be captured, other services being done and the survey taken.

Data changing

This is the process of converting data found in one format to another. Data extraction process often involves mining data from an existing system, formatting it, cleansing it and can be installed to enhance both availability and retrieving of information easily. Extensive testing and application are the requirements of this process. The service offered by data mining companies includes SGML conversion, XML conversion, CAD conversion, HTML conversion, image conversion.

Managing data service

In this service it involves the conversion of documents. It is where one character of a text may need to be converted to another. If we take an example it is easy to change image, video or audio file formats to other applications of the software that can be played or displayed. In indexing and scanning is where the services are mostly offered.

Data extraction and cleansing

Significant information and sequences from huge databases and websites extraction firms use this kind of service. The data harvested is supposed to be in a productive way and should be cleansed to increase the quality. Both manual and automated data cleansing services are offered by data mining organizations. This helps to ensure that there is accuracy, completeness and integrity of data. Also we keep in mind that data mining is never enough.

Web scraping, data extraction services, web extraction, imaging, catalog conversion, web data mining and others are the other management services offered by data mining organization. If your business organization needs such services here is one that can be of great significance that is web scraping and data mining



Source: http://ezinearticles.com/?Data-Management-Services&id=7131758

Thursday 5 September 2013

Effective Online Data Entry Services

The outsourcing market has many enthusiastic buyers who have paid a small amount to online data entry service providers. They carry the opinion that they have paid too low as against the work they have got done. Online services is helpful to a number of smaller business units who take these projects as their significant source of occupation.

Online data-entry services include data typing, product entry, web and mortgage research, data mining as well as extraction services. Service providers allot proficient workforce at your service who timely deliver best possible results. They have updated technology, guaranteeing 100% data security.

Few obvious benefits found by outsourcing online data entry:

    Business units receive quality online entry services from projects owners.
    Entering data is the first step for companies through which they get the understanding of the work that makes strategic decisions. The raw data represented by mere numbers soon turns to be a decision making factor accelerating the progress of the business.
    Systems used by these services are completely protected to maintain high level of security.
    As you increasingly obtain high quality of information the business executive of the company is expected to arrive at extraordinary decisions which influence progress in the company.
    Shortened turnaround time.
    Cutting down on cost by saving on operational overheads.

Companies are highly fascinated by the benefits of outsourcing your projects for these services, as it saves time as well as money.

Flourishing companies want to concentrate on their key business activities instead of exploring into such non-key business activities. They take a wise step of outsourcing their work to data-entry-services and keep themselves free for their core business functions.



Source: http://ezinearticles.com/?Effective-Online-Data-Entry-Services&id=5681261

Data Mining Tools - Understanding Data Mining

Data mining basically means pulling out important information from huge volume of data. Data mining tools are used for the purposes of examining the data from various viewpoints and summarizing it into a useful database library. However, lately these tools have become computer based applications in order to handle the growing amount of data. They are also sometimes referred to as knowledge discovery tools.

As a concept, data mining has always existed since the past and manual processes were used as data mining tools. Later with the advent of fast processing computers, analytical software tools, and increased storage capacities automated tools were developed, which drastically improved the accuracy of analysis, data mining speed, and also brought down the costs of operation. These methods of data mining are essentially employed to facilitate following major elements:

    Pull out, convert, and load data to a data warehouse system
    Collect and handle the data in a database system
    Allow the concerned personnel to retrieve the data
    Data analysis
    Data presentation in a format that can be easily interpreted for further decision making

We use these methods of mining data to explore the correlations, associations, and trends in the stored data that are generally based on the following types of relationships:

    Associations - simple relationships between the data
    Clusters - logical correlations are used to categorise the collected data
    Classes - certain predefined groups are drawn out and then data within the stored information is searched based on these groups
    Sequential patterns - this helps to predict a particular behavior based on the trends observed in the stored data

Industries which cater heavily to consumers in retail, financial, entertainment, sports, hospitality and so on rely on these data methods of obtaining fast answers to questions to improve their business. The tools help them to study to the buying patterns of their consumers and hence plan a strategy for the future to improve sales. For e.g. restaurant might want to study the eating habits of their consumers at various times during the day. The data would then help them in deciding on the menu at different times of the day. Data mining tools certainly help a great deal when drawing out business plans, advertising strategies, discount plans, and so on. Some important factors to consider when selecting a data mining tool include the platforms supported, algorithms on which they work (neural networks, decisions trees), input and output options for data, database structure and storage required, usability and ease of operation, automation processes, and reporting methods.



Source: http://ezinearticles.com/?Data-Mining-Tools---Understanding-Data-Mining&id=1109771

Wednesday 4 September 2013

Data Mining and Financial Data Analysis

Most marketers understand the value of collecting financial data, but also realize the challenges of leveraging this knowledge to create intelligent, proactive pathways back to the customer. Data mining - technologies and techniques for recognizing and tracking patterns within data - helps businesses sift through layers of seemingly unrelated data for meaningful relationships, where they can anticipate, rather than simply react to, customer needs as well as financial need. In this accessible introduction, we provides a business and technological overview of data mining and outlines how, along with sound business processes and complementary technologies, data mining can reinforce and redefine for financial analysis.

Objective:

1. The main objective of mining techniques is to discuss how customized data mining tools should be developed for financial data analysis.

2. Usage pattern, in terms of the purpose can be categories as per the need for financial analysis.

3. Develop a tool for financial analysis through data mining techniques.

Data mining:

Data mining is the procedure for extracting or mining knowledge for the large quantity of data or we can say data mining is "knowledge mining for data" or also we can say Knowledge Discovery in Database (KDD). Means data mining is : data collection , database creation, data management, data analysis and understanding.

There are some steps in the process of knowledge discovery in database, such as

1. Data cleaning. (To remove nose and inconsistent data)

2. Data integration. (Where multiple data source may be combined.)

3. Data selection. (Where data relevant to the analysis task are retrieved from the database.)

4. Data transformation. (Where data are transformed or consolidated into forms appropriate for mining by performing summary or aggregation operations, for instance)

5. Data mining. (An essential process where intelligent methods are applied in order to extract data patterns.)

6. Pattern evaluation. (To identify the truly interesting patterns representing knowledge based on some interesting measures.)

7. Knowledge presentation.(Where visualization and knowledge representation techniques are used to present the mined knowledge to the user.)

Data Warehouse:

A data warehouse is a repository of information collected from multiple sources, stored under a unified schema and which usually resides at a single site.

Text:

Most of the banks and financial institutions offer a wide verity of banking services such as checking, savings, business and individual customer transactions, credit and investment services like mutual funds etc. Some also offer insurance services and stock investment services.

There are different types of analysis available, but in this case we want to give one analysis known as "Evolution Analysis".

Data evolution analysis is used for the object whose behavior changes over time. Although this may include characterization, discrimination, association, classification, or clustering of time related data, means we can say this evolution analysis is done through the time series data analysis, sequence or periodicity pattern matching and similarity based data analysis.

Data collect from banking and financial sectors are often relatively complete, reliable and high quality, which gives the facility for analysis and data mining. Here we discuss few cases such as,

Eg, 1. Suppose we have stock market data of the last few years available. And we would like to invest in shares of best companies. A data mining study of stock exchange data may identify stock evolution regularities for overall stocks and for the stocks of particular companies. Such regularities may help predict future trends in stock market prices, contributing our decision making regarding stock investments.

Eg, 2. One may like to view the debt and revenue change by month, by region and by other factors along with minimum, maximum, total, average, and other statistical information. Data ware houses, give the facility for comparative analysis and outlier analysis all are play important roles in financial data analysis and mining.

Eg, 3. Loan payment prediction and customer credit analysis are critical to the business of the bank. There are many factors can strongly influence loan payment performance and customer credit rating. Data mining may help identify important factors and eliminate irrelevant one.

Factors related to the risk of loan payments like term of the loan, debt ratio, payment to income ratio, credit history and many more. The banks than decide whose profile shows relatively low risks according to the critical factor analysis.

We can perform the task faster and create a more sophisticated presentation with financial analysis software. These products condense complex data analyses into easy-to-understand graphic presentations. And there's a bonus: Such software can vault our practice to a more advanced business consulting level and help we attract new clients.

To help us find a program that best fits our needs-and our budget-we examined some of the leading packages that represent, by vendors' estimates, more than 90% of the market. Although all the packages are marketed as financial analysis software, they don't all perform every function needed for full-spectrum analyses. It should allow us to provide a unique service to clients.

The Products:

ACCPAC CFO (Comprehensive Financial Optimizer) is designed for small and medium-size enterprises and can help make business-planning decisions by modeling the impact of various options. This is accomplished by demonstrating the what-if outcomes of small changes. A roll forward feature prepares budgets or forecast reports in minutes. The program also generates a financial scorecard of key financial information and indicators.

Customized Financial Analysis by BizBench provides financial benchmarking to determine how a company compares to others in its industry by using the Risk Management Association (RMA) database. It also highlights key ratios that need improvement and year-to-year trend analysis. A unique function, Back Calculation, calculates the profit targets or the appropriate asset base to support existing sales and profitability. Its DuPont Model Analysis demonstrates how each ratio affects return on equity.

Financial Analysis CS reviews and compares a client's financial position with business peers or industry standards. It also can compare multiple locations of a single business to determine which are most profitable. Users who subscribe to the RMA option can integrate with Financial Analysis CS, which then lets them provide aggregated financial indicators of peers or industry standards, showing clients how their businesses compare.

iLumen regularly collects a client's financial information to provide ongoing analysis. It also provides benchmarking information, comparing the client's financial performance with industry peers. The system is Web-based and can monitor a client's performance on a monthly, quarterly and annual basis. The network can upload a trial balance file directly from any accounting software program and provide charts, graphs and ratios that demonstrate a company's performance for the period. Analysis tools are viewed through customized dashboards.

PlanGuru by New Horizon Technologies can generate client-ready integrated balance sheets, income statements and cash-flow statements. The program includes tools for analyzing data, making projections, forecasting and budgeting. It also supports multiple resulting scenarios. The system can calculate up to 21 financial ratios as well as the breakeven point. PlanGuru uses a spreadsheet-style interface and wizards that guide users through data entry. It can import from Excel, QuickBooks, Peachtree and plain text files. It comes in professional and consultant editions. An add-on, called the Business Analyzer, calculates benchmarks.

ProfitCents by Sageworks is Web-based, so it requires no software or updates. It integrates with QuickBooks, CCH, Caseware, Creative Solutions and Best Software applications. It also provides a wide variety of businesses analyses for nonprofits and sole proprietorships. The company offers free consulting, training and customer support. It's also available in Spanish.



Source: http://ezinearticles.com/?Data-Mining-and-Financial-Data-Analysis&id=2752017

Tuesday 3 September 2013

Data Mining - Techniques and Process of Data Mining

Data mining as the name suggest is extracting informative data from a huge source of information. It is like segregating a drop from the ocean. Here a drop is the most important information essential for your business, and the ocean is the huge database built up by you.

Recognized in Business

Businesses have become too creative, by coming up with new patterns and trends and of behavior through data mining techniques or automated statistical analysis. Once the desired information is found from the huge database it could be used for various applications. If you want to get involved into other functions of your business you should take help of professional data mining services available in the industry

Data Collection

Data collection is the first step required towards a constructive data-mining program. Almost all businesses require collecting data. It is the process of finding important data essential for your business, filtering and preparing it for a data mining outsourcing process. For those who are already have experience to track customer data in a database management system, have probably achieved their destination.

Algorithm selection

You may select one or more data mining algorithms to resolve your problem. You already have database. You may experiment using several techniques. Your selection of algorithm depends upon the problem that you are want to resolve, the data collected, as well as the tools you possess.

Regression Technique

The most well-know and the oldest statistical technique utilized for data mining is regression. Using a numerical dataset, it then further develops a mathematical formula applicable to the data. Here taking your new data use it into existing mathematical formula developed by you and you will get a prediction of future behavior. Now knowing the use is not enough. You will have to learn about its limitations associated with it. This technique works best with continuous quantitative data as age, speed or weight. While working on categorical data as gender, name or color, where order is not significant it better to use another suitable technique.

Classification Technique

There is another technique, called classification analysis technique which is suitable for both, categorical data as well as a mix of categorical and numeric data. Compared to regression technique, classification technique can process a broader range of data, and therefore is popular. Here one can easily interpret output. Here you will get a decision tree requiring a series of binary decisions.



Source: http://ezinearticles.com/?Data-Mining---Techniques-and-Process-of-Data-Mining&id=5302867

Sunday 1 September 2013

Usefulness of Web Scraping Services

For any business or organization, surveys and market research play important roles in the strategic decision-making process. Data extraction and web scraping techniques are important tools that find relevant data and information for your personal or business use. Many companies employ people to copy-paste data manually from the web pages. This process is very reliable but very costly as it results to time wastage and effort. This is so because the data collected is less compared to the resources spent and time taken to gather such data.

Nowadays, various data mining companies have developed effective web scraping techniques that can crawl over thousands of websites and their pages to harvest particular information. The information extracted is then stored into a CSV file, database, XML file, or any other source with the required format. After the data has been collected and stored, data mining process can be used to extract the hidden patterns and trends contained in the data. By understanding the correlations and patterns in the data; policies can be formulated and thereby aiding the decision-making process. The information can also be stored for future reference.

The following are some of the common examples of data extraction process:

• Scrap through a government portal in order to extract the names of the citizens who are reliable for a given survey.
• Scraping competitor websites for feature data and product pricing
• Using web scraping to download videos and images for stock photography site or for website design

Automated Data Collection
It is important to note that web scraping process allows a company to monitor the website data changes over a given time frame. It also collects the data on a routine basis regularly. Automated data collection techniques are quite important as they help companies to discover customer trends and market trends. By determining market trends, it is possible to understand the customer behavior and predict the likelihood of how the data will change.

The following are some of the examples of the automated data collection:

• Monitoring price information for the particular stocks on hourly basis
• Collecting mortgage rates from the various financial institutions on the daily basis
• Checking on weather reports on regular basis as required

By using web scraping services it is possible to extract any data that is related to your business. The data can then be downloaded into a spreadsheet or a database for it to be analyzed and compared. Storing the data in a database or in a required format makes it easier for interpretation and understanding of the correlations and for identification of the hidden patterns.

Through web scraping it is possible to get quicker and accurate results and thus saving many resources in terms of money and time. With data extraction services, it is possible to fetch information about pricing, mailing, database, profile data, and competitors data on a consistent basis. With the emergence of professional data mining companies outsourcing your services will greatly reduce your costs and at the same time you are assured of high quality services.




Source: http://ezinearticles.com/?Usefulness-of-Web-Scraping-Services&id=7181014