Why is data mining used too little in business?

[tomson]

Hello everybody,

There have been a lot of promising words around about data mining for (at least) the last decade. If one investigates how much data mining is applied in business, it can be concluded that this is rather limited. Currently I am investigating the possible causes of this limited data mining usage for my Master Thesis of Industrial Engineering and Management. This investigation includes a literature study and input a couple of experts from the data mining field.

Currently I want to check my results for two aspect with aid of other data mining practitioners:

- Is my analysis of possible causes complete (iow: what is missing?)

- Are the identified causes recognized confirmed or rejected by data mining practitioners?

In order to proceed with my verification, I am looking for data mining practitioners, who are willing to give feedback on my work. I will send the participants a document with my findings to enable them to give their comments and other kind of feedback. (Or is it a better idea to start the discussion right here in this forum, let me know!) I think that my findings might be useful for every practitioner in the field and encourage you to participate.

Are there any people in this forum, who are willing to participate? In return you will receive my final results, which may be valuable for you as well.

Thanks!

[editor]

Defined broadly, data mining is probably one of the widest used technologies
because it includes web mining and search engines (e.g. Google grew from research related to data mining).

Data mining is also used very widely in bioinformatics and in business CRM (customer relationship management), in financial transactions - from credit risk scoring to mortgage risk assessment to some quantitative wall street funds), in telephone companies to predict attrition.

Of course, there are also plenty of areas where data mining would not be successful.

If you have some specific findings, please share them in this forum.

[ScottCEmail@Gmail.com]

I would be happy to help you with reviewing your results, if you are still interested. You can reach me at ScottCEmail at Gmail.com. I look forward to hearing from you!