Dr. Lakshmi Mohan
Why is Data Mining a “Hot” Topic Today?
1. Implementation of ERP, CRM & SCM systems have resulted in
vast stores of operational data.
2. Emergence of global competition has put the pressure on
companies to be “data- driven” – i.e., make informed decisions
based on facts and not hunches.
3. The speed of change in the marketplace demands that the pearls
of actionable information have to be found faster in the ocean of
data, for companies to be one step ahead of competition.
4. The hardware needed to store and process a “ton of data” was
prohibitively expensive until recently – “You would have had
to have NASA at your disposal”. Today, the technology makes it feasible to apply complex models to ferret out patterns left to rot in “data jails”.