What is online data mining software?
Definition
An online data mining software analyses data to predict the performance of a product/service. Decision-making is not easy, and it requires a non-biased study. Setting up a predictive analysis becomes less time-consuming thanks to data mining software. Data mining software are multidimensional solutions capable of dissecting a large amount of data. It's all about automating the process between Big Data analysis and digital marketing.
How does online data mining software works?
Online data mining software takes advantage of the SaaS (Software as a Service) concept. The goal is to offer a company a flexible and powerful tool, that requires no computer maintenance. Being hosted on a third party or partner server, the program is protected against internal hacking or bugs. You just need to connect to a synchronized platform to have access to a private dashboard. Since digital marketing on this scale may require the intervention of several business intelligence consultants, the tool offers collaborative support to make remote cooperation easy.
To take advantage of data mining software in SaaS, all you need to do is subscribe to an offer and create a business account. You need to have an internet connection to use this type of software.
What are the main features of a SaaS data mining software?
As data mining is a tedious task, it is essential that data mining software are built around the basic missions of a BI consultant. Functionality is important when it comes to this kind of software:
Data analysis
A SaaS Data mining software must contain a powerful algorithm to explore a large amount of information. Data mining is done in a few seconds to highlight the important areas that a decision consultant must exploit. The majority of data mining software are able to analyze data to remove useless data and to keep those that are essential to solve a problem defined in advance. The result is a synthesis of the data.
An evaluation system
From the first basic functionality of these programs, a cost estimate must be derived. These two options are complementary. For example, such programs usually include a module for predicting results. Clear statistics support the results by showing the key indicators behind these estimates.
A sharing option
The majority of big data solutions include an option to share hypotheses. Since the very purpose of SaaS software is to improve remote collaboration, software editors have to include this functionality in their software to be competitive. With this module, it is, therefore, easier to create synergy between the entire team.
Who uses data mining software?
This type of software is mainly used by business intelligence consultants. With data mining software, business intelligence is studied allowing each company to observe the position of its brand according to the behavior of potential customers. Analysts within the framework of digital marketing can also use this type of program. Today, there are many SaaS solutions that fit all types of activities including real estate, cosmetics, fashion, etc..