Benefits and Hazards of Data Mining, Research Paper Example

Data mining is an important information technology that gives an opportunity to an organization for enhancing its effectiveness as well as efficiency. Data mining makes applies of technologies in the identification of behavioral patterns for stakeholders in an organization including employees, clients, suppliers and all other vital aspects. The patterns identified play a vital role in enhancing a comprehensive understanding of vital processes and in predicting the future outcomes associated with particular situations (Ferreira de Oliveira & Levkowitz, 2003).  This is an achievement in an organization that reflects the benefits that are associated with data mining in the organization. The most important consideration in achieving maximum benefits associated with  successful implementation of data mining technology is placing the most qualified people to man the domain that use this technology. An initiative of data mining that is supervised by highly qualified experts is likely to offer numerous benefits that exceed any costs associated with this technology and thus warrant taking any associated risk. Data mining has been associated with great success in sales and marketing fields especially in determining customers’ behaviors in purchasing (Han, Et al., 2002).

Data mining is however associated with some costs which range from small to large. A free tool for data mining may be downloaded and the skillfully used in the process of data mining. Identification of patterns is a guarantee in this scenario. The accuracy or usefulness of this process is the contentious issue that comes with potential risks. The organization may spend huge sums of money in this technology that potentially process data in great speed, pretty visualization and high quantity. However, the issue of accuracy and usefulness remains a contentious issue. This risk can however be reduced through employing experts in this field.

References

Ferreira de Oliveira, M. C., & Levkowitz, H. (2003). From visual data exploration to visual data mining: A survey. Visualization and Computer Graphics, IEEE Transactions on, 9(3), 378.

Han, J., Et al., (2002). Emerging scientific applications in data mining. Commun. ACM, 45(8), 54-58.