The most important data goes into a lot of research, planning, studies, experiments, and the like before it gets down to "business". Business in the sense of promoting, publishing or marketing it to the consumers.
Behind the scenes is where the real "profit" comes into play. Its just like starting a business of your own. First, you have to observe the market where you want to put up the business. Then, you come up with ideas of what businesses would click in that area, or something like "this is what people have been waiting, wanting, craving and looking for all this time".
Have you ever wondered what makes an established company successful and why are they becoming more successful? What is the secret? This questions linger in our minds questioning how come this companies know when is the right time to come in to the consumer market. It's as if they got it all under control. Brother's Burger (I'm craving for one right now) a burger line fast food that promotes quality, satisfaction and taste conducts a 70%, 50% off sale on their specialty burger, which is Brother's Burger. They plan this out on a timely manner. The sale would go for the whole day, meaning you have to grab the opportunity even if their doors at lunch time would be flooded (oh yeah, floodgates of heaven.. here I come!) by people wanting to take part of a once in a blue moon mouth watering occasion. The next day would feel like nothing happened, back on its original tab. These promotional events is somehow random, it makes you feel that you want more and you can't wait to partake on the next sale. Customers would be left questioning: "WHEN WOULD IT BE..... AGAIN??"
Probably, after they have compiled all the information they need, a statistical data would be generated in order to show how promotions or any other strategic application affected the target market and when they would most likely to market it once again. The results cause in Statistics, more and better data could actually spawn an accurate outcome. "However, statistical techniques are driven by the data and are used to discover patterns and build predictive models" taken from Thearlng's Data Mining Techniques.
Data Mining is also a way of extracting information. But, it is more of the bigger scope of analyzing data. Statistics is only a part, a method, of its Data Mining Tools. There are several tools that you can purchase in able to enhace and at the same time improve the use and ability of Data Mining. Histograms, Clustering System, Linear Regression, Nearest Neighbor and etc.
Before shelling out a fortune, you have to see and analyze what you are investing into.
Results of using these tools leads to creating several branches on the decision tree. Collectively speaking, if the company has the advantage of possessing data then more choices would engender, but having the decision tree technique into use could help cut down to the data that is most needed. There is also another technique, among several others, that is called modeling where you could try to find something that is still very unknown to you. Modeling helps to respond in your concerns.
So among all the tools and techniques that are available today. We must, indeed, make use in order for us to progress in our future corporate life. Remembering or by just keeping in mind the true importance could lead us to become more aware of the wants and needs, that could be in time the most in demand consumer service or product in the philippines and in the whole wide world.
"All the good things came beneath an idea plus the gathering of data, every fact and information will matter".
Before the best and the most popular movies, celebrities, business people, corporations, music, basketball teams and a whole lot more had become who they are and what they are now... its because they all passed BEHIND THE SCENES, and the rest just followed.
Let me end by saying "I.T. is not what you know but I.T.'s what you can prove"
About Me
Showing posts with label thearling. Show all posts
Showing posts with label thearling. Show all posts
Friday, July 10, 2009
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