Mathematical models are developed in every area from atomic energy to bio technology. Models are generally designed to understand the real world phenomena mathematically/algorithmically. A model is a prototype of reality or an abstraction. Real world contains a lot of assumptions and axioms, despite this we can fit the real world process into a mathematical [...]
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Companies are slowly adopting to the data mining as a concept, they are looking for quick and easy solution for their problems. On the other end there are whole host of companies which are offering software solution and tools for data mining. There is a danger here, the easy use of GUI tools on large amount [...] Decision makers or knowledge workers are looking for information and knowledge at various kinds for making strategic or even mundane decisions. The process of extraction of information and knowledge from data is called data mining. This knowledge and information can be represented in various formats, this could be as simple as mean, median, mode, count or [...] Business Intelligence can be referred to a set of analysis methodologies & mathematical techniques that leverage the available data to derive knowledge / information that can be used to support/action business critical decisions. Call for a robust BI system comes from the need of making effective decisions, which has to be based on accurate information about business. Decisions are [...] techniques |
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