Data mining automates the detection of relevant patterns in a database, using defined approaches and algorithms to look into current and historical data that can then be analyzed to predict future trends.
Because Data mining tools predict future trends and behaviours by reading through databases for hidden patterns.
And it allow organizations to make proactive, knowledge-driven decisions and answer questions that were previously too time-consuming to resolve.
Lot of companies & organizations are purchase and use these tools which designed by existing software & hardware platforms. These data mining tools integrated into new products or they can build their own custom mining tools.
For an example feeding the output of a data mining exercise into another computer system, such as a neural network that include algorithms, is quite common and can give the mined data more value.
This is because that data mining tool gathers the data, while the neural network makes decisions based on the data collected.
There are different types of data mining tools are available in the marketplace & each tool with their own strengths and weaknesses.
Specially Internal auditors need to be aware of some different kinds of data mining tools available and recommend the purchase of a tool that matches the organization's current detective needs. Otherwise it’s a waste of money & sometimes it harms to the data security.
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We classified Data Mining Tools into 3 Categories
1. 1.Traditional Data Mining Tools
- These tools helps companies to establish data patterns and trends by using a number of complex algorithms and techniques.
- Installed on the desktop to monitor the data and highlight trends and others capture information residing outside a database.
2. 2. Dashboards
- These tools are enabling the user to see how the business is performing.
- Installed in computers to monitor information in a database, &dashboards reflect data changes and updates
3. 3. Text-mining Tools
- These kind of tools have ability to mine data from different kinds of text.
Ex - Ms Word and Acrobat PDF documents to simple text files
Except these tools, other applications and programs may be used for data mining purposes.
For example audit interrogation tools can be used to highlight fraud, data anomalies, and patterns.
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Tool Groupings
Desktop | High End |
PC (standalone) | Multiple Platforms, Client- Server |
Flat Files | Flat Files or Direct Database Access |
One or Two Algorithms | Multiple Algorithm Types |
Data Fits into RAM | Large Databases |
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This is some of those Data mining tools with user’s usability by comparing them in 2 years progresses.
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Let’s Compare some of those tools
Categories for Comparisons
• Platforms Supported
• Algorithms Included
– Decision Trees
– Neural Networks
– Other
• Data Input and Model Output Options
• Usability Ratings
• Visualization Capabilities
• Modelling Automation Methods
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Data Mining Tools that we are talking about
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1. Comparison According to the Platforms
2. Comparison using Algorithms
3. Comparison by Data Input & Model Input
4. Comparison according to the Usability
5. Comparison using Visualization
6. Comparison using Modelling Automation Methods
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What Data Mining tools Can do & Can’t do
· Data Mining Tools Can:
ü Very good for classification purposes.
ü Enhance inference process.
ü Speed up design cycle.
ü Good for certain time-sensitive things.
- Data Mining Tools Can Not:
ü Substitute for statistical and domain expertise.
ü Can’t understand the changing of human’s choice.