Diminishing downsides of Data Mining

Data Mining (DM) helps deliver tremendous insights for businesses into the problems they face and aids in identifying new opportunities. It further helps businesses to solve more complex problems and make smarter decisions. DM is a potentially powerful tool for companies; however, more research is needed to measure the benefits of DM. This paper represents a study of the effectiveness of DM in a commercial perspective. First, statistical issues are given. It is followed by data accuracy and standardisation. Diverse problems related to the information used for conducting a DM research are identified. Also, the technical challenges and potential roadblocks in an organisation itself are described.

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