Data Mining Process at BackOffice Pro
BackOffice Pro (BOP) provides data mining services to a wide range of clients who require data or information for various purposes that may include a business expansion, marketing, or business diversification. Based on the requirements of the clients, the data mining team at BackOffice Pro collects data or information that is relevant to the client.
We follow the Cross-Industry Standard Process for Data Mining (CRISP-DM) and SEMMA for data mining.
Cross-Industry Standard Process for Data Mining (CRISP-DM)
The CRISP-DM has six steps as below:
- Business Understanding – In this phase, our team determines the business objectives, assesses the current situation, establishes data mining goals, and develops a project plan.
- Data Understanding – Once the business objectives and data mining goals are established, our team collects data from the Internet. They send out crawlers into the worldwide web, which collect large volumes of data. This data, however, is unorganized and needs to be sorted to get meaningful information.
- Data Preparation – After identifying the data that is required by the client, our team selects the relevant information. It transforms them into the desired format that can be used for data modeling.
- Modeling – In this phase, our team selects the modeling techniques to be applied to the prepared data set, which will help them to convert raw data into meaningful information. After choosing a technique, a test scenario is generated to validate the quality and validity of the model.
- Evaluation – In this phase, our team thoroughly evaluates the model results in the context of the business objectives of the client. They share the results with the clients to determine whether the client's requirements are met.
- Deployment – In this phase, our team organizes and presents the data mining results to the client. If the client needs a more detailed analysis of the data, the project is passed on to our Research and Analysis team.
At BackOffice Pro, we use secondary sources to find accurate and reliable information for their clients. They take the time to understand the client’s requirements. Based on the specifications provided by the client, they find information or data that is most useful to the client. Here are some of the ways in which our data mining team finds contact information of companies and management professionals requested by the client:
- Professional websites – Our data mining team has access to professional websites such as LinkedIn and other networking websites from which they can extract the contact details of the top and senior management professionals. Most of the management professionals are registered members of such professional networking websites. Thus, access to these websites allows our team to deliver contact information of top and senior management professional that is requested by the client.
- White pages – Our team uses white pages to search for contact information of management professionals. Sometimes, our team is unable to get the desired information from professional networking websites. This may be due to restricted access to information on the websites. In such cases, our team uses white pages to collect information about individuals.
- Yellow pages – To collect data related to research on venues such as hotels or restaurants, attributes or features of products, pricing of products, or companies in a particular area, our data mining team uses yellow pages. Yellow pages give access to the various database from which our team can collect data that is most useful to the client.
- Company information database – The data mining team at Back Office Pro uses paid professional databases websites to extract contact information of top and senior management professionals and find companies in particular areas. Such websites provide information on different companies and industries, allowing our team to collect information that is required by the client.
- Annual reports of companies – For clients who require information about financial statements of companies, our team collects data from the companies’ annual reports that include general corporate information, accounting policies, balance sheet, cash flow statements, profit and loss account, an auditor’s report, among other information. They provide information about a company’s activities and financial performance throughout the preceding year. This helps our team to collect accurate and reliable data.
SEEMA (Sample, Explore, Modify, Model, Assess)
We also use the SEEMA (Sample, Explore, Modify, Model, Assess) model of data mining based on the client’s requirements. It makes the application of exploratory statistical and visualization techniques, the selection and transformation of the predicted variables, the selection of a model and iterations easy and accurate.
- Sample: At this stage, we extract the large dataset and take a sample to represent the entire data to reduce the processing time.
- Explore: We explore the data for any anomalies and outliers and visually check to figure out the trends.
- Modify: In this step, we segregate the data into groups and subgroups.
- Model: Depending on the groups and modifications, we create the model explaining the data patterns.
- Assess: The model is then assessed for reliability and usefulness through testing.
Once we successfully build the model using the CRISP or the SEMMA approach, we share it with the client and deploy it in their business processes.
Benefits of Data Mining Process at BackOffice Pro
At BackOffice Pro, we handle complex business problems and simplify it. Our data mining process helps our clients with the benefits below:
- Predicts Future Trends – Our data mining carries all the information, factors, elements, and structure that help in joining the data points and predicting future trends.
- Identifies consumer behavior – We track all the customer behavior from various available sources that helps in determining consumer behavior. This eventually supports businesses in making accurate business decisions.
- Enhancing marketing databases – We extract email data and contact information of the potential customers of our clients through social media mining and other methods to enrich their customer database from time to time.
- Competitor Analysis – Mining the competitors' data and news monitoring helps companies keep an eye on their data and updates. This often helps in making strategic business decisions.
- Customer Relationship Management – We help our clients to identify buyers who are most likely to buy the products and services, understand the reasons behind customer churns, determine the segment of profitable customers. These data ensure that the client gets a solid understanding of the time-variant associations to maximize sales and customer value. It also provides insights into the preferences, needs, and wants of the customer.
- Accurate Sales Volume – Our precise data mining helps in supports the clients from the retail and travel industry by predicting accurate sales volumes, identify relations between various product types and consumption levels. It helps our retail clients discover the product movement patterns, optimize logistics, thereby maximizing revenue.
Apart from extracting information related to contact details of companies and management professionals, the data mining team at BackOffice Pro also provides online services related to business intelligence data mining, retail data mining, medical/healthcare data mining, open-source data mining, SQL data mining, and image data mining. We also provide offline data mining services that include excel data mining, word data mining, visual data mining, PDF data mining, social media data mining, medical/healthcare data mining, open-source data mining, SQL data mining, and image data mining.
Our team works tirelessly to provide superior quality service to our clients within a short period of time. They ensure that the data provided by them meets the client’s requirements. They take strict measures to ensure that the data is accurate, reliable, and free of duplicity.
If you are planning to outsource your data mining requirements, BackOffice Pro is here to assist you in achieving your business goals. Contact us today to know how you can engage our data mining experts for your process, based on your exact business needs.