Session 23 - Managing Knowledge II Bin Gu, Ph.D. Assistant...

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Managing Knowledge II Bin Gu, Ph.D. Assistant Professor of IM Bin.Gu@mccombs.utexas.edu Ph: 512-471-1582; Fax: 512-471-0587
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Business Intelligence and Data Mining Data mining and business intelligence Why data mining? Why now? What is data mining? Examples of data mining in business Overview of data mining tasks Hands on example: An XLMiner application What are some major application areas?
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Why data mining? Why now? The data is being produced. Moore’s Law Massive amount of data on operations and customers has been collected by companies as an asset from which to draw competitive advantage. However, there is far too much data for manual analysis. Amazon.com records purchase behavior for 50M active customers. Google stores information on more than 11B objects. Walmart estimates that it has ~500 TB of data collected. Etc.
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Technically, Computing power is better and affordable. Mature data mining algorithms and commercial data mining software products are readily available. The data is being warehoused: there is improved data collection, networking, and data storage. Interest in business intelligence (e.g. customer
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Session 23 - Managing Knowledge II Bin Gu, Ph.D. Assistant...

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