Chapter 1: Data Exploration as a Process

Chapter 1: Data Exploration as a Process

Overview

Data exploration starts with data, right? Wrong! That is about as true as saying that making sales starts with products.

Making sales starts with identifying a need in the marketplace that you know how to meet profitably. The product must fit the need. If the product fits the need, is affordable to the end consumer, and the consumer is informed of your product?s availability (marketing), then, and only then, can sales be made. When making sales, meeting the needs of the marketplace is paramount.

Data exploration also starts with identifying a need in its ?marketplace? that can be met profitably. Its marketplace is corporate decision making. If a company cannot make correct and appropriate decisions about marketing strategies, resource deployment, product distribution, and every other area of corporate behavior, it is ultimately doomed. Making correct, appropriate, and informed business decisions is the paramount business need. Data exploration can provide some of the basic source material for decision making?information. It is information alone that allows informed decision making.

So if the marketplace for data exploration is corporate decision making, what about profit? How can providing any information not be profitable to the company? To a degree, any information is profitable, but not all information is equally useful. It is more valuable to provide accurate, timely, and useful information addressing corporate strategic problems than about a small problem the company doesn?t care about and won?t deploy resources to fix anyway. So the value...

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Data Preparation for Data Mining

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Chapter 1: Data Exploration as a Process

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