Internet Data Mining - How Does it Help Businesses?

Internet has become an indispensable medium for people to conduct different types of businesses and transactions too. This has given rise to the employment of different internet data mining tools and strategies so that they could better their main purpose of existence on the internet platform and also increase their customer base manifold.

Internet data-mining encompasses various processes of collecting and summarizing different data from various websites or webpage contents or make use of different login procedures so that they could identify various patterns. With the help of internet data-mining it becomes extremely easy to spot a potential competitor, pep up the customer support service on the website and make it more customers oriented.

There are different types of internet data_mining techniques which include content, usage and structure mining. Content mining focuses more on the subject matter that is present on a website which includes the video, audio, images and text. Usage mining focuses on a process where the servers report the aspects accessed by users through the server access logs. This data helps in creating an effective and an efficient website structure. Structure mining focuses on the nature of connection of the websites. This is effective in finding out the similarities between various websites.

Also known as web data_mining, with the aid of the tools and the techniques, one can predict the potential growth in a selective market regarding a specific product. Data gathering has never been so easy and one could make use of a variety of tools to gather data and that too in simpler methods. With the help of the data mining tools, screen scraping, web harvesting and web crawling have become very easy and requisite data can be put readily into a usable style and format. Gathering data from anywhere in the web has become as simple as saying 1-2-3. Internet data-mining tools therefore are effective predictors of the future trends that the business might take.


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Data Collection, Just Another Way To Gather Information

Data collection just does not help the companies to launch new products or know about the public reaction to a specific issue, it is a very useful tool for statistical inferences, once the collected data is compiled. The process of data collection is the third step of the six step market research processes. Data collection can be done in two ways involving various technicalities. In this article, we shall give a brief overview of the same.

Data collection can be done in two ways - secondary data and primary data. Secondary data collection involves is the information available in books, journals, previous researches or studies and the Internet. It basically involves making use of the data already present to build or substantiate a concept.

On the other hand, primary data collection is the process of data collection through questionnaire by directly asking respondents of their opinions. Forming the right questionnaire is the most important aspect of data collection. The researcher conducting the data collection just has to be aware of the process. He should have a clear idea about the information sought by the concerned party.

Besides, the data collection officer should be able to construct the questionnaire in such a way so as to elicit the responses needed. Having constructed the questionnaire the researcher should identify the target sample. To illustrate the point clearly, we shall look into the following example.

Suppose, data collection is aimed from an area A, then, if all the residents of the data are given the questionnaire, it is called a census or in other words data collection is done from all the individuals of the specified area. One of the most common examples of data collection done by the government is census. For example the population census conducted by the US Census Bureau every ten years. On the other hand, if only twenty or thirty percent of the population living in area A are given the questionnaire, the mode of data collection would be called sampling.

The data collected from the target sample with a well-defined questionnaire will project the response of the entire population living in the area. Data collected from a sample helps to control the cost and time spent on collecting data from the population. Sample is a part of population.

Data collection just gets easier from the target sample with the help of a pretested questionnaire, which is later analyzed using statistical tests like ANOVA, Chi Square test and so on. These tests help the researcher to infer the result obtained from the data collection.

Market research/data collection is a fast growing and lucrative career option now days. One has to undertake a course in marketing, statistics and research before starting out. It is indeed very important to have a through understanding of various concepts and the theories related. Some basic terminologies related to data collection are: census, incidence, sample, population, parameters, sampling frames and so on.

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Data Collection - Make a Plan

Planning for the data collection activity provides a stable and reliable data collection process in the Measure phase.

A well-planned activity ensures that your efforts and costs will not be in vain. Data collection typically involves three phases: pre-collection, collection and post-collection.

Pre-collection activities: Goal setting and forming operational definitions are some of the pre-collection activities that form the basis for systematic and precise data collection.

1.  Setting goals and objectives: Goal setting and defining objectives is the most important part of the pre-collection phase.

It enables teams to give direction to the data to be collected. The plan includes description of the Six Sigma project being planned. It lists out specific data that is required for the further steps in the process.

If there are no specific details as to the data needs, the data collection activity will not be within scope - and may become irrelevant over a period of time.

The plan must mention the rationale of data being collected as well as the final utilization.

2.  Define operational definitions: The team must clearly define what and how data has to be collected. An operational definition of scope, time interval and the number of observations required is very important.

If it mentions the methodology to be used, it can act a very important guideline to all data collection team members.

An understanding of all applicable information can help ensure that there no misleading data is collected, which may be loosely interpreted leading to a disastrous outcome.

3.  Repeatability, stability and accuracy of data: The repeatability of the data being collected is very important.

This means that when the same operator undertakes that same activity on a later date, it should produce the same output. Additionally, it is reproducible if all operators reach the same outcome.

Measurement systems should be accurate and stable, such that outcomes are the same with similar equipment over a period of time.

The team may carry out testing to ensure that there is no reduction in these factors.

Collection Activity

After planning and defining goals, the actual data collection process starts according to plan. Going by the plan ensures that teams achieve expected results consistently and accurately.

Training can be undertaken so as to ensure that all data collection agents have a common understanding of data being collected. Black Belts or team leaders can look over the process initially to provide any support needed.

For data collection over a longer period, teams need to ensure regular oversight to ensure that no collection activities are overlooked.

Post collection activities

Once collection activities are completed, the accuracy and reliability of the data has to be reviewed.

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