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How Cloud Computing is Transforming Data Mining for Business Intelligence
Technology is constantly advancing and changing. The business world also changes at an exponential rate as more businesses start using data as a basis for decision making. Cloud adoption has also been on the rise. Cloud computing offers affordable solutions that allow customers to pay only for the resources and services that they use. Cloud computing may be a particularly attractive option for companies who must budget their finances carefully. The implementation of data mining techniques through a cloud computing platform can help businesses create a well-integrated data warehouse which can help get rid of all the performance bottlenecks and scalability issues that you might run into while using a traditional data mining setup. Here’s everything you need to know about utilizing cloud computing for your data mining needs.
Demystifying Data Mining: What is it?
Data mining is the process of extracting valuable information from large data sets in order to make informed business decisions or improve the efficiency of a business process. One of the key factors that affect the outcome of a business process is data quality. In order to improve the overall quality of your data and make it usable, you can use data mining tools to look for patterns in the data that are related to the root cause of the problem and then implement solutions that can help the organization to avoid these issues in the future. Once you’re able to discover patterns in the data, it is significantly easier to create actionable solutions that can be scaled easily and effectively. The data mining process requires a stable and efficient development environment and application platform. As data mining algorithms are compute-intensive, a large amount of available computing resources is also a requirement.
The Evolution of Data Mining in the Cloud
Worldwide, the significance of data to modern businesses is increasing. Companies are investing a huge chunk of change into establishing processes to collect, share, and analyze data. The true value of raw data lies in the story it can tell and without the adequate resources to process it, the story can never be worth it. The Data mining industry is evolving to meet new challenges. With the rise of solutions that implement artificial intelligence to find patterns in data, cloud-based data mining has been instrumental in solving problems. Startups that simply cannot afford the expensive resources required to create a traditional setup often opt for a cloud service provider that can provide them data mining services at an incredibly low price and more importantly, an on-tap deployment environment. Such terms of deployment can change the entire landscape and diminish the role of data aggregators that command a huge price for the data they purchase from smaller businesses. Cloud service providers allow using novel classification methods and fraud detection techniques at scale without hurting the warchest.
The Advantages of Using Cloud-Based Data Mining Services
The demand for Cloud-based business intelligence tools is increasing and cloud-based data mining services are giving traditional BI tools a run for their money. Smaller startup companies that require deep levels of analysis on data to reveal trends and patterns have been trading traditional systems for the cloud since the higher cost of using them became evident. They still realize that traditional tools do not provide comprehensive analytic solutions and make use of cloud based data mining for their in-house strategies which is an absolute shame considering the cost differences. Here are some of the advantages to using cloud-based data mining services:
- Speed: The speed of implementing a data mining solution can be a huge factor in terms of making the choice. Creating an elaborate plan of action and acting upon it can slow down your entire operations which can be prevented by using a cloud-based solution. A cloud-based data mining service can get you up and running in a fraction of the time and cater to your exact needs.
- Cutting Capital Expenditures: The capital expenditures are absorbed by the cloud service provider which provides you a seamless experience where you don’t have to make the expensive services or create an entire department that takes care of the deployment and maintenance.
- Scalability: Cloud-based solutions can be scaled easily and effectively which is easier said than done for traditional architectures.
- Creating a collaborative development environment: With the rise in remote work for corporate application, it is essential that geographically-dispersed teams are able to work on the same datasets simultaneously.
How to Choose the Right Cloud-Based Data Mining Service
Data mining is a valuable business for cloud service providers. Businesses are relying more and more on data to make informed decisions, but the pace of collecting data is faster than it used to be, which can make real-time data mining difficult. However, cloud computing makes real-time monitoring easy and affordable. Analytics service providers have figured out how to make their software work with a variety of analytics engines, so start by searching for one that will work well with your software. Also, always remember that AI works best when fed. Here are some of the best cloud-based data mining services that you could choose for your organization:
- Datalakes from AWS
- Azure Knowledge mining:
- Google Data Cloud
How Atidan Technologies can help you integrate Cloud-based data mining solutions into your business
Atidan specializes in creating customized strategies for data mining. Atidan has a ton of experience in going hand-in-hand with organizations to create customized products that implement data science. With access to the largest talent pool in the world with a proven track record of customer satisfaction, Atidan can help you develop a rock-solid approach to ensure seamless integration. With access to Atidan’s highly experienced recruiters, you can even hire data engineers for your business. With decades of experience in helping businesses with their technological needs, Atidan delivers more value than you could imagine. With global offices in the USA, UK, India, SEA and success stories across various industries, our goal is to help you realize the full potential of today's cutting-edge technologies.
