Insights

DATA MINING AND KNOWLEDGE DISCOVERY

Data mining (also known as Knowledge Discovery) is quite often the start of our journey with clients – delving into the data can help identify key business challenges and give the client a much deeper understanding of their customer base and the information they hold.  Companies often face questions about their customers/business that seem straightforward, but in reality are extremely complex to answer.  

WHAT IS DATA-MINING AND KNOWLEDGE DISCOVERY?

Data mining projects typically start off with general client inquiries and then zoom in on specifics of interest.  For example, a company may want to know how many customers it has, or the market penetration of its products.

Before starting a Knowledge Discovery, we make sure we understand your business, your challenges and where you are going to ensure that we deliver you the insights you’re looking for.  Knowledge Discovery projects are fairly simple from an analytical perspective – the biggest component is accessing and cleaning your data, and from there we look at areas such as the Knowledge Discoveryfollowing:

  • Number of unique customers over time / new customers over time
  • Lost customers over time
  • Product holdings and what products are commonly associated with each other
  • Market penetration
  • Customer origins (if known)
  • Distribution of spend, value, profit - any KPI indictors that are known
  • Patterns/trends/changes/duplicates in the customer base
  • Campaign reporting and channel analysis
  • Geographic penetration - GIS maps/tables

The final output is a comprehensive analysis of the customer base, either at a point in time or over a period of time.  The results of this analysis will be presented to and shared with you in an electronic format that can be easily shared within your company and used to answer simple queries.

BENEFITS & INDUSTRIES

Benefits

  • Gives the organisation insight into their data
  • Is a straightforward first analytics project
  • Cleans and organises data for future use
  • Highlights problem areas for further analytical work
  • Highlights potential business opportunities

Industries

  • FMCG
  • Banking & Financial
  • Insurance
  • Retail
  • Telco
  • Not for Profit
  • Government
  • Human Resources
  • Real Estate
  • Entertainment

CASE STUDY

201805 Child Cancer Foundation PPT

WHAT NEXT?

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