MGE Data, s.r.o.

Qualification

Data mining

Data mining is the process of analyzing data from different perspectives and summarizing it into useful information.

In MGE DATA we prepare SW tools in order to get information that can be used to increase revenue, cuts costs, or both. Data mining software is one of a number of analytical tools for analyzing data in our portfolio. It allows users to analyze data from many different dimensions or angles, categorize it, and summarize the relationships identified. Technically, data mining is the process of finding correlations or patterns among dozens of fields in large relational databases.

Continuous Innovation

Although data mining is a relatively new term, the technology is not. Companies have used powerful computers to sift through volumes of supermarket scanner data and analyze market research reports for years. However, continuous innovations in computer processing power, disk storage, and statistical software are dramatically increasing the accuracy of analysis while driving down the cost.

What can data mining do?

Data mining is primarily used today by companies with a strong consumer focus – retail, post providers, outdoor advert providers, financial, communication, and their marketing organizations. It enables these companies to determine relationships among „internal“ factors such as price, product positioning, or staff skills, and „external“ factors such as economic indicators, competition, and customer demographics. And, it enables them to determine the impact on sales, customer satisfaction, and corporate profits. Finally, it enables them to „drill down“ into summary information to view detail transactional data.

With data mining, a retailer could use point-of-sale records of customer purchases to send targeted promotions based on an individual's purchase history. By mining demographic data from comment or warranty cards, the retailer could develop products and promotions to appeal to specific customer segments.