Emerging Trends of Data Mining That You Should Follow in 2017

Date posted: May 17, 2017

data mining

 

By Gracie Myers

2016 was the year when data mining simply exploded. Everyone learned became aware of the importance of data mining in a vast online world where large amounts of information are shared every single minute. This is a valuable technique that can give a lot of important insights to businesses and marketers alike.

A lot of people started practicing it in 2016 and realized just how beneficial it can be. However, this is a turf that can change a lot in a very short time, and it’s because the way data mining is done depends on a lot of things. It is directly connected to how consumers behave and what they do.

Based on their behavior and its importance, the practices in data mining evolve in outsourcing field. This is why a constant change in trends is to be expected, and given the fact that 2017 is already well on its way, new trends have already emerged. Luckily, I always try to keep up and was able to compile a list of the most noticeable changes since the start of 2017.

Here are some of the data mining trends you should follow in 2017.

Mining personal data

In the past, the level of personal information that business organizations were able to collect on their consumers was limited. It was possible to see what users shared, their emails, names, gender and in some cases location. However, today there are endless possibilities when it comes to finding and digging up personal information online.

As an example you can look at Facebook allowing all apps, or companies that have received a permission from the users to see their personal details using Facebook, to access various personal data from sexual preferences, to location, education and many others.

Additionally, Facebook has allowed many large advertising companies to target people on various personal details without asking for any consent from the Facebook users. Most people weren’t even aware of how certain ads were targeting them. However, soon enough, from this trend, yet another one appeared.

More transparency is required

Despite the fact that everyone is gathering valuable user data today, the people whose data is collected, the consumers, are usually unaware of this, but people have started educating themselves about online data mining techniques.

Given the fact that this lack of transparency has been around since the beginning of the data mining practice, it’s only logical that there are consumers who have educated themselves about data mining and they don’t like the fact that they aren’t notified that someone is gathering their data.

There are many companies and organizations that have already recognized this, which is why they are trying to do something about this unwillingness that has been building up in consumers. Users will soon have analytic tools that they can use to see which information was gathering on them by ad engines.

In the future, companies and marketers alike will have to consider consumers as well, and make sure that they don’t gather any data their consumers don’t want them to.

Life science data mining

Yet another trend that is expected to explode this year is the increased data for life sciences. People create enormous amounts of data every day and it’s only expected that these numbers will grow in the future, given the fact that people will only adopt more and more technology interfaces as time goes by.

Gathering, structuring and understanding all of this data can be of great help to the life sciences sector and make it more efficient and focused in their development and research processes.

Predictive data mining

A new growing trend of predictive analytics is visible in various sectors and it consists of extracting valuable information from existing data to be able to forecast future outcomes and probabilities. This is a data mining technique that focuses only on past data.

This is a method of determining and finding certain categories of data and analyzing it for the purpose of estimating certain outcomes. This technique is not 100% true and it takes into account a certain level of reliability. Additionally it also includes risk assessment and giving a couple of alternative scenarios.

Various organizations use this data mining technique to decide their next business moves, launch products, marketing campaigns etc. These analytical results can help a business backup their new campaigns or even help them determine their future steps.

All of these trends show that 2017 is going to be exciting right up until the very end, at least when it comes to data mining. All industries are affected by data mining and its changes. Smart investors who are brave enough should try to grab the opportunity to invest in data, as its possibilities are endless at the moment. Who knows where it can take us in the future and how important it will be.

Gracie Myers is a passionate writer. Gracie writes for small business, outsourcing, Marketing. when she is not doing that, She loves to spend time with friends.

Related Stories »

Leave a Reply

Your email address will not be published. Required fields are marked *

Time limit is exhausted. Please reload the CAPTCHA.

Your Employees’ Mental Health »


Why Mental Health Issues May Be Hurting Employee Well-Being
Read More…

Listen to Rieva Now! »

Small Business Ideas

Get Small Business Ideas From Rieva

turning passion into profit »

turning passion into profit

Download your free ebook here!

Trends: small business ideas »

Get Updates »

Enter your email to subscribe to our RSS.

Free Download »

Free Download

Startup ideas for businesses to start now! Download here

Congrats Rieva Lesonsky! Named to Top 250 Business Journalists

Small Biz Money Tip »

Small Biz Money Tip

Pricing: Have more than one price for your product or service. Make one price seem more attractive than the other. People love a good deal, especially when they can relate one price to the other.
More Money Tips From Justin Krane

http://education.dandb.com/partner/90755/

Loan Center »

New Loan Center

Find a Small Business Loan