Comprehensive Data Mining Project Assessment

Successful data mining (also referred to as predictive modeling and business analytics) requires a purposeful blend of strategy and tactics. In the 1990s, pioneering companies realized the potential advantages of employing data mining technology as early as possible. They chose to undertake this initiative in-house. Too often, these innovators would prematurely dismiss the technology when they fell victim to common, yet elusive data mining project pitfalls. Other progressive organizations decided to maintain focus on their core competencies and outsource data mining. They too rarely met with success. Although their consultants may have had adequate analytics and industry experience, critical project management issues specific to data mining and their customers’ operations were overlooked.