Data mining, data warehousing, decision support and knowledge discovery
make up the universe of D S * ( dsstar ), the only executive business newsletter
supporting strategic employment of these technologies.
The On-Line Executive Journal for Data-Intensive Decision Support
*** Apr 27, 1999: Vol. 3, No. 17 ***
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IN THIS ISSUE:
ED COLET DISCUSSES BARRIERS TO DATA MINING
DBT TO ACQUIRE WINSHAPES
BUSINESS PROCESS MODELING FOR FINANCIAL APPLICATIONS
ANALYSIS & COMMENTARY
BARRIERS TO DATA MINING: THE 3 PH.D. PROBLEM
by Ed Colet, Virtual Gold Inc.
A high-ranking executive at a large corporation characterized the typical
implementation of a data mining project as a "three Ph.D. setup". At the
risk of simplifying the situation, it was described in the following manner.
The first Ph.D., or Ph.D. equivalent is your business expert - the person
that understands the business issues facing the industry in general, and the
company in particular. The second Ph.D. is a quantitative or statistical
expert. This is the person that knows what statistical analyses are
appropriate and applicable and under what circumstances. This may also be
the person that builds the mathematical models that are then applied to the
business problem(s) at hand. The third Ph.D. is a Computer Science expert.
DBT TO ACQUIRE WINSHAPES - DEVELOPER OF ADVANCED LINK
ANALYSIS INVESTIGATIVE SOFTWARE TOOLS
DBT Online, Inc. and privately held WinSHAPES, Inc. of Seattle has
announced that they have signed a letter of intent for DBT to acquire
WinSHAPES, Inc. DBT is the fastest growing nationwide provider in the new
market for online investigative information services. WinSHAPES is a market
leader in Windows 95/98/NT link analysis software used by business and
government to fight fraud and crime.
BANCTEC PROCESSFIRST OFFERS BUSINESS PROCESS MODELING FOR
FINANCIAL APPLICATIONS
BancTec, Inc., a leading provider of transaction management solutions, is
launching a powerful new service to simulate and improve processes for
financial organizations. BancTec ProcessFIRST combines BancTec's
consultants, a group of highly experienced financial process analysts, and
WorkForecaster from Meta Software, the world's leading provider of workflow
modeling and simulation for operations process improvement within the
financial services industry.
ACTION ITEMS
John Deere Harvests Accurate Sales Forecasts With
Information Discovery
Equipment manufacturing is an inherently capital intensive business and
knowing the direction of the market three months sooner can save tens of
millions of dollars in inventory costs every quarter, as well as better
focusing marketing campaigns and sales incentives. John Deere Waterloo
Works, the world's largest producer of agricultural tractors, now has high
technology help in seeing into the future.
General Automation Announces Strategic Alliance to Provide
Customers a Comprehensive Data Mining Solution
General Automation, Inc. and Management Information Tools, Inc. (MITI),
Seattle, Wash., announced a joint marketing and sales partnership that
brings together GA's proven MultiValue technology environment with MITI's
data mining solution, Management Information Tools Software, designed
specifically for the MultiValue market.
HNC Software and Open Solutions Inc. Form Strategic
Marketing Alliance
HNC Software Inc., a leading provider of predictive software solutions to
large banks and other financial institutions, has formed a strategic
alliance with Open Solutions Inc. (OSI) to enhance the product offerings
that both companies extend to their markets. HNC also made a minority equity
investment in OSI, a leading developer of client/server core data processing
solutions for community banks and credit unions.
QUOTE OF THE WEEK
"(T)he best decision based on the most valid analysis is not
always the decision that is made."
Acting Director of Research,
Virtual Gold Inc.
CONFERENCES & SEMINARS 04.27.99
D S * INFORMATION
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