You Need More than Plain Data – Applying Data Mining in Business
Keywords – Data Mining
There is a lot of wrongful buzz around using data for business these days.
Like most things in life, data in itself is not a bad thing. Instead, it is the way we use data, especially in business, that leads to problem. Therefore, at Marketing Voice, we have made a habit of pointing at misleading or inappropriate use of data in order to direct businesses in the right direction. A step deeper, we have even talked about the mistake of looking in the wrong place and collecting the incorrect quantity of data to start with.
This blog is an extension of the last idea – what happens when the place and quantity have been fixed?
Looking for Patterns – Data Mining
Like the volatility of a stock market, data has the tendency to go through patterns.
Based on an interest of public at a time or when things go viral, we end up putting more value on an interest than it deserves. Most of the time, this interest is short lived and any efforts to harvest die alongside the death of the interest. And, with limited understanding of these patterns, businesses take irregular peaks and lows as evidence for decisions.
But, that should not be the case.
More than data itself, it is important to look for patterns. More specifically, it is important to base decisions of longevity of these patterns.
This act of looking for patterns in data to make decisions is called data mining. Let’s look into an example in digital marketing.
Example from Digital Marketing
But, we have rarely talked about the deeper role of keyword research and a useful understanding of it. And, data mining is a key part of keyword data research.
Put simply, our decisions to find and use a keyword is not based on the shear volume at only a given time. In fact, we look for search patterns covering the whole of last year, month by month.
This not only provides a validation for the interest in the keyword, but also helps us project the increasing or decreasing interest in a topic in a given time. Based on this information then, we can even project where to divert our efforts in the near future.
In simple words, an understanding of patterns in keywords data help us form strategies for the growth of organisations. To learn more, get in touch today.