context
Adequate forecasting of the future can only be achieved through extensive knowledge of the past. Nowadays, companies are facing increasing volumes of stored data.
Data mining is the process of sorting through large amounts of data and picking out relevant business information. Data mining in relation to Enterprise Resource Planning is the statistical and logical analysis of large sets of transaction data, looking for patterns that can aid decision making. Data mining is a strategic activity to support business decisions as it allows identifying primary key attributes of business processes and helps defining new business opportunities; data mining thus provides competitive advantage by increasing profits and/or reducing costs.
key considerations
A successful implementation of a data mining project relies on different factors:
- thorough business understanding: strong business knowledge and correct data interpretation are crucial to correctly analyse the outcome of a data model.
- reliable methodology: data mining projects require a specific, structured and complete methodology to retrieve the best out of the information. Several methodologies exist to ensure the success of such a project. Keyrus data mining solutions rely on the CRISP/DM methodology, which has already proven its effectiveness.
Based on six phases, going from business understanding to deployment, this methodology supports the successful completion of the data mining project.
- technology selection: nowadays, numerous tools exist to model data. The selection of the most appropriate tool requires a strong assessment of the environment and good communication with all users involved to ensure its perfect integration with the existing environment.
Keyrus and data mining
Keyrus considers data mining in the current competitive market as an important component of the decision chain. Our specific focus on data mining, from HR and business perspectives, as well as our proven track record in data mining projects, position Keyrus as a key partner for all companies who want to exploit their data and obtain competitive advantage by implementing data mining solutions.
