Comments on: Data mining requires data http://www.monashreport.com/2006/10/04/data-mining-requires-data/ Technology ... politics ... marketing ... strategy ... life Fri, 05 Mar 2010 04:00:49 -0500 http://wordpress.org/?v=2.8.4 hourly 1 By: Some reasons business intelligence is in a funk | DBMS2 -- DataBase Management System Services http://www.monashreport.com/2006/10/04/data-mining-requires-data/comment-page-1/#comment-110301 Some reasons business intelligence is in a funk | DBMS2 -- DataBase Management System Services Sun, 13 Sep 2009 04:51:24 +0000 http://www.monashreport.com/2006/10/04/data-mining-requires-data/#comment-110301 [...] is a much smaller challenge than enforcing procedural discipline on your decision-makers.  Double-quoting myself this time, Analytic business processes — or the areas of overlap between analytics and business [...] [...] is a much smaller challenge than enforcing procedural discipline on your decision-makers.  Double-quoting myself this time, Analytic business processes — or the areas of overlap between analytics and business [...]

]]> By: Curt Monash http://www.monashreport.com/2006/10/04/data-mining-requires-data/comment-page-1/#comment-3754 Curt Monash Wed, 22 Nov 2006 06:45:04 +0000 http://www.monashreport.com/2006/10/04/data-mining-requires-data/#comment-3754 Will, The investment I was referring to was in building and maintaining the data stores, which get up to 100s of terabytes these days in some cases. (Petabytes get mentioned occasionally too, but I don't know of a single instance where data mining is truly carried out on that scale.) But yes, that's more true in some businesses -- especially ones with LOTS of customers or prospects -- than others. Thanks for your comment, CAM Will,

The investment I was referring to was in building and maintaining the data stores, which get up to 100s of terabytes these days in some cases. (Petabytes get mentioned occasionally too, but I don’t know of a single instance where data mining is truly carried out on that scale.)

But yes, that’s more true in some businesses — especially ones with LOTS of customers or prospects — than others.

Thanks for your comment,

CAM

]]> By: Will Dwinnell http://www.monashreport.com/2006/10/04/data-mining-requires-data/comment-page-1/#comment-3652 Will Dwinnell Thu, 09 Nov 2006 01:54:30 +0000 http://www.monashreport.com/2006/10/04/data-mining-requires-data/#comment-3652 In most cases, data mining does not require "huge investments". The biggest investment neccessary for data mining is in paying for someone qualified to do the data mining. Assuming the data to be analyzed already exists in some sort of database, all that is needed is a decent PC (at most about $3,000) and software ($2,500 or less). This is what I've used for several years to build predictive models used to manage several billion dollars worth of risk. One can pay more, but I'm not sure what benefit that provides. In most cases, data mining does not require “huge investments”. The biggest investment neccessary for data mining is in paying for someone qualified to do the data mining. Assuming the data to be analyzed already exists in some sort of database, all that is needed is a decent PC (at most about $3,000) and software ($2,500 or less). This is what I’ve used for several years to build predictive models used to manage several billion dollars worth of risk. One can pay more, but I’m not sure what benefit that provides.

]]>