Publications

How to Buy Data Mining: A Framework for Avoiding Costly Project Pitfalls in Predictive Analytics

Article published in DM Review Magazine, October 2005 Issue
By Eric A. King

How does someone purchase an intangible, cryptic, seemingly immeasurable technology? Beyond the inherent up-front risks of engaging in what is essentially a discovery process, just identifying a starting point can be intimidating and mystifying. Despite its elusive nature, data mining technology has surpassed the flash-in-the-pan "miracle tool" stigma with widespread and sustained success stories highlighted in mainstream publications, along with recurring case studies of improved operational efficiencies, enhanced business intelligence and residual payback. For any organization with annual revenues more than $50 million, employing data mining technology is not a matter of whether, but when.

See many good tips, including 10 tips on "How NOT to Buy Data Mining" in the rest of the story.