KDnuggets Home » Polls » Financial Crisis Effect on Data Mining (March 2009)

Financial Crisis Effect on Data Mining


 
  

Financial Crisis Effect:
How much the amount of your paid data mining / analytic industry work has changed since last year: [99 votes total]

100% down (unemployed) (7) * 7%
decreased 50% or more (7) * 7%
decreased 25-49% (4) * 4%
decreased 11-25% (8) * 8%
stayed about the same (37) * 38%
increased 11-25% (14) * 14%
increased 25% or more (11) * 11%
not applicable - not working in the industry last year (11) * 11%

Comments:

Gregory Piatetsky-Shapiro: No decline in data mining work
The poll results show that demand for data mining did not change significantly due to financial crisis, since the median response shows that amount of work stayed the same or slightly increased.

The table below shows the analysis of data mining work change by region (determined by GeoIP lookup), excluding the "not applicable" group. We observe that US data mining work has declined slightly, while it grew in Europe and Asia. No significant change in other regions.

RegionDecreased/
unemployed
About
the same
IncreasedChange
Indicator
US / Canada (44) * 34% * 43% * 23% -11%
Europe (26) * 23% * 42% * 35% +12%
Australia / NZ (7) * 29% * 43% * 29% 0%
Latin America and Africa (6) * 17% * 67% * 17% 0%
Asia (5) * 25% 0% * 75% +20%
Overall (88) 29.5% 42.0% 28.4% -1%

Here Change Indicator is the difference between % Increased and % Decreased. Bar height corresponds to the number of respondents from that region. Percentages are rounded to whole numbers.

Ralf Klinkenberg, Rapid Growth for Open Source Data Mining
The year 2008 has been a very successful year for our open source data mining company Rapid-I. Not only has our open source data mining software RapidMiner gained many new users, but more importantly, we gained many new customers for our data mining services. More and more companies value both, the high quality and flexibility of RapidMiner as well as our epxertise that helps them to faster and better make use of such a powerful solution.

From 2007 to 2008, we doubled the size of our data mining team and trippled the sales volume. And in 2009 we see the demand still rising. The response to our presence at CeBIT 2009 was overwhelming and we are busy with customer projects in the financial sector, telcos, utility providers, pharma, retail, manufacturing, and online market research. They all are optimizing their operations.

In short: It's time to cut costs and to make companies more efficient and more effective. Open source software without license fees and data mining are two great ways to do this. We are very optimistic for the times ahead!

Simon Metcalfe, Holding Strong
I always said that this downturn should provide more opportunities for analytics/data mining and although it's very sad to see a number of people have lost their jobs/seen a large reduction it is very heartening to see that most of us are business as usual or increasing !

If we can survive this we can survive anything - keep fighting everyone.

Khai-Meng Chia, Retailers fighting competition with Data Mining
We see some traditionally conservative retailer clients employing Data Mining to maintain and even gain market share.

They've identified the technology as an essential means to understanding their shoppers better. They're using Data Mining to motivate their shoppers to concentrate their spending at the retailers' banners.

TimManns, changing conditions -> increase
I work in a telco, and in addition to (or probably because of...) the changes in economy Australia has just seen the telco market change from a 4 player to 3 player market.

Two of our smaller competitors have announced a merger, leading us to consider opportunities and risks.

I think changing markets always cause organisations to re-evaluate their position in the market place, and therefore have greater need for data mining insights.


 
Related
Financial Crisis Expected Effect on Data Mining Field Poll, Oct 2008

KDnuggets Home » Polls » Financial Crisis Effect on Data Mining (March 2009)