Mini Applications Guide on Knowledge Discovery from Databases

18Oct08

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In our last post we discussed about Knowledge Discovery and its basic areas of research. Now I will be focussing on the Businessa dn IT aspects of Knowledge Discovery from Databases. Knowledge Discovery from Databases also known as KDD is a growing field since past 10 years which combines techniques from databases, statistics and machine learning.

Knowledge Discovery from Databases is extremely helpful in recognizing key market buying patters through computers in IT and Business World. Here is Mini Applications Guide of Knowledge Discovery from Databases which in most normal cases has one of the following goals: -

1. Customer Relationship Management: This is a very importnat aspect involved with any business house. It deals with Whos and Which of the the Market Like:

Who are the best customers, which products are to be offered to which customers (direct marketing or customer acquisition),

Which customers are likely to end the relationship (customer churn)

2. Fraud Detection: Knowledge Discovery from Databases applications do not assume user profiles to be given but learns them from observations of user behavior. So this role of Knowledge Discovery from Databases is highly important to predict which customers are likely to not pay loans or debts and highly useful in FInancial Sector

3. Decision Support : Knowledge Discovery from Databases applications aim at a data-driven justification of decisions by relating actions and outcomes Decision support applies to almost all areas, ranging from medicine over marketing to logistics.

4. Asset Management :Asset management moves beyond job scheduling and quality control. The goal is to optimize the overall benefits of production.

A good example of Knowledge Discovery from Databases can be seen in the worldwide release of SPIDERMAN -3. After targeting the customers of India Spiderman -3 was released in many languages including Bhojpuri and Punjabi for the 1st time in India to tap users from Multiple Languages.