Description: We live in the world of information explosion. There is information and data flooding out from nooks and corners of this world. There is information flowing from almost every domain from education management to space research. Businesses are growing and businesses are diversifying. There is a spirit of competition in the area. There is zeal to perform better and show results better than any other. Information helps, it helps gain a competitive edge. Managing information and data have become important like never before.
In an age in which data has to saved, secured, archived, and retrieved the functions or data mining and warehousing become indispensable. If data mining helps archiving data, data warehousing helps in putting the data in understandable formats and arranging it in such a way that it helps analyzing, predicting, forecasting and above all decision making in no time.
The biggest loophole in this era of information explosion is that there is enough information, information is churned out almost in an astronomical pace, but at the same time processing this information into understandable chunks is grievously late. This delays the decision making process which is in fact, if not an exaggeration, a life-force to businesses. Data mining and warehousing precisely aim to make businesses adept at decision making.
The Technology Data Warehousing and Mining Techniques Final Seminar Report Review magazine posits that data mining is one of the top 10 emerging technologies that have the potential to change the world. Data Warehousing has an inherent potential to discover new information or information that was otherwise unnoticed. Data mining thus is a kind of discovery that unravels hidden patterns without any hypothesis. Enterprises are relying heavily on data mining. Data mining is now gaining a whole new prominence until a few years ago it was considered as an addendum to warehousing. Data mining now is an indispensable business tool in its own right.
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