The extraction of hidden predictive information from large databases, is a powerful new technology with great potential to help SBS Data "preemptively define the information market of tomorrow." Data mining tools predict future trends and behaviors, allowing businesses to make proactive, knowledge-driven decisions. The automated, prospective analyses offered by data mining move beyond the analyses of past events provided by retrospective tools. Data mining answers business questions that traditionally were too time-consuming to resolve. Data mining tools scour databases for hidden patterns, finding predictive information that experts may miss because it lies outside their expectations.
SBS Data companies already know how to collect and refine massive quantities of data to deliver relevant and actionable business information. In this sense, SBS Data has been "mining" data for years. Today, some SBS Data units are already using data mining technology to deliver new kinds of answers that rank high in the business value chain because they directly fuel return-on-investment decisions.
Data mining techniques can be implemented rapidly on existing software and hardware platforms across SBS Data to enhance the value of existing resources, and can be integrated with new products and systems as they are brought on-line. When implemented on high performance client-server or parallel processing computers, data mining tools can analyze massive databases while a customer or analyst takes a coffee break, then deliver answers to questions such as, "Which clients are most likely to respond to my next promotional mailing, and why?"
In the SBS Data units DIG surveyed, we found strong interest and a wide range of activities and research in data mining. Groups are engaged in data mining to varying degrees, from experimentation by individual analysts to the deployment of completed projects. We also found a wealth of potential business opportunities that could open up through data mining technology.
The breadth of SBS Data's collected data places the company in a unique position to take advantage of the fact that data mining tools produce better results with larger, broader databases. By integrating data mining into its products and services, SBS Data can leverage its existing resources to achieve new revenue.