The Information Gold Rush
When you hear the word “mining”, the mind often conjures images of people in hard hats and carts filled with ore under a hot dimly-lit mine. It’s a cumbersome, yet rewarding process that involves a lot of digging and sifting, and digging, and extracting and dig… – you get the picture. Data mining shares a lot of similarities, but instead of tunneling through a mountain or burrowing beneath the ground, analysts excavate and examine heaps of information stored in data warehouses and process it into meaningful reports for the end-user, like sales teams and managers.
The Process: A Quick Run-Through
Data mining starts with identifying data source. Let’s take your CRM database as an example. The information is housed in a data warehouse, which could be a local server or a cloud-based solution. This raw data is then organized and run for analysis to search for different patterns like purchasing behavior, web searches, social media interactions and so forth. The output is refined through a series of rule revisions and data queries – similar to processing ore in traditional mining – until the data analyst uncovers the outcome he is looking for. From there, the sales team or managers can formulate a plan of action based on the interpretation of the findings.
Get with the program
So you want to integrate data mining into your system. It’s not as difficult as it may seem. You need not look any further than your current CRM. Most popular CRM packages offer data mining add-ons or may have third party solutions already developed for it. You may be pleasantly surprised that the feature you’ve been wanting to add existed all along, right under the hood of your current system. Hubspot is a perfect CRM system that enables you to perform data mining capabilities with partners that are quite experienced and capable. With evolving This ensures that your system grows in tandem with the needs of your business, so you wouldn’t need to make a drastic shift to another platform.
Conclusion
When implemented correctly, data mining capabilities can effectively move your business forward to the next level. That is why covering all the bases with a solid program is the next logical step to any growing operation. The insight gained from data mining can be tremendous for your business. It can save you money on costs, increase your ROI, and most importantly, keep those smiles stuck on your customers faces. After all, a deep knowledge of your client base will do your business no harm – you just have to keep on digging.
