Sigmastrat becomes foremost Data mining company in Ghana.
Welcome to a new dawn of Business Intelligence leading to Continuous Performance Improvement in Corporate Ghana. Sigmastrat is the foremost specialist Data mining company in Ghana. With over 30 years combined professional/specialized experience in various areas of performance improvement, Sigmastrat seeks to take Data mining in Ghana to the next level. Data mining (sometimes called data or knowledge discovery) is the process of analyzing data from different perspectives and summarizing it into useful information - information that can be used to increase revenue, cuts costs, or both.
Technically, data mining is the process of finding correlations or patterns among dozens of fields in large relational databases. Many companies employ the services of statisticians to generate weekly, monthly, quarterly reports on figures and data to inform them mostly of their performance or the most profitable customer or even profitable employee in a specific period. Some of these are sometimes placed on Business Intelligence dashboards and submitted to management on monthly, quarterly or yearly meetings. Inasmuch as these reports are interesting and help to monitor progress of the company it does not necessarily give much details about the company’s activities to position the company for decision making.
Perennial quarterly or annual report does little to inform management about why customers are leaving the company, or which customer will respond to a new product or who is likely to be a loyal customer. Consequent to this is the insurgence of Data Mining. Among the various definitions of Data Mining include: "Data mining is finding interesting structure (patterns, statistical models, relationships) in databases." (U. Fayyad, S. Chaudhuri and P. Bradley) ; Data mining is an interdisciplinary field bringing together techniques from machine learning, pattern recognition, statistics, databases, and visualisation to address the issue of information extraction from large data bases” (Evangelos Simoudis in Cabena et al.) Hence data mining can be thought of as the process of identifying valid, novel, potentially useful, and ultimately comprehensible understandable patterns or models in data to make crucial business decisions.
Data mining was predicted to be “one of the most revolutionary developments of the next decade” more than a decade ago in the United States by the online technology magazine ZDNET News. During that same period, MIT technology Review chose data mining as one of 10 emerging technologies that will change the world. Well I wonder if it has been that revolutionary in my country where constantly the police works mostly on tip offs to catch criminals and business customer growth really does not see much in the face of choked competition. However, in case you are wondering how Data mining is shaping the world, then imagine how the FBI scans through a lot of faces to make out one particular person or better still, when you play your chess, checkers, motor racing and the likes with the computer consider what makes the computer make a move. Face recognition software, games have all been trained through data mining techniques to produce an outcome; Google also uses data and text mining methods to put the right advertisement on your mail so the next time you open your gmail account, check words in your mail and the adverts at the side of your mail box. Think through how Facebook also suggests friends for you and advertises Ghanaian products for you.
Indeed Data Mining is making significant strides in Robotic designs, Agricultural product and services enhancement, Consumer Relationship management, Market basket Analysis. In stock market analysis it can be used to predict stock market returns and insider trading and in law it can be applied to finding association rules in cases recorded in legal databases. It can be used to predict corporate bankruptcies and profile the tourism market. In genetics, it is used to find out how the changes in an individual's DNA sequence affect the risk of developing common diseases such as cancer. In the area of electrical power engineering, data mining techniques have been widely used for condition monitoring of high voltage electrical equipment. Another application is within educational research, where data mining has been used to study the factors leading students who choose to engage in behaviours which reduce or enhance their learning and also predicting student examination performance. Clearly, it is undeniably true that data mining is changing our world and any country, business or institution that does not get along is programming its mechanisms of operation to fail.
The tasks that data mining can achieve include: Description, Classification, Clustering, Predictions, Estimation, and Association. Prediction, Estimation and Classification are mostly classified under supervised learning where the mechanisms for predicting, estimation or classification are trained with historical data to be able to deal with future data or observations. Clustering and Association are also mostly classified under unsupervised learning where the mechanisms are applied on current data to produce an outcome. There are various techniques to undertake these tasks and each problem determines that particular technique that can be used. Data Mining I must emphasize is not software or a programming suite that can be purchased in the market for fast easy use. It is a process that requires expert supervision to make everything happen. There are laid down cross industry guide or processes to enhance the discipline. You might probably be wondering why it has not been blown up as a ‘cannot do without’ field like medicine, business, engineering and all that, I thought so too until I found out the misconception that it’s just statistics. Data mining uses most statistical tools but it is not statistics. It is an interdisciplinary field which incorporates statistics, database management and artificial intelligence. A statistician can be trained to be a data Miner but a statistician is not necessarily data miner and definitely such a person should not be a computer and to some extent a programming phobic person
Sigmastrat strives to take data mining to the next level in Ghana.