7. Text Mining - Analytics Evolution Evolutionary Step Business Question Characteristics Data Collection (1960s) What was the total sales in the last 5 years? Retrospective, static data delivery Data Access (1980s) What were the unit sales in India in November? Retrospective, dynamic data delivery at record level Data warehousing & decision support (1990s) What were the unit sales in India in November? drill down to US ? Retrospective, dynamic data delivery at multiple levels Data mining (emerging today) What’s likely to happen to India sales next month and why? Prospective, proactive information delivery
8. Relevance: Why & Where Why Where Burgeoning field Business intelligence applications Massive data Huge easily available data Powerful computers Articles, Abstracts, Books, Memos Data Mining softwares Blogs, Reviews, Discussion Boards