Learn How you can "predict" the future with Data Mining!
Extract from Wikepedia:
Data mining is the computational process of discovering patterns in large data sets involving methods at the intersection of
artificial intelligence, machine learning, statistics, and database systems. It is
an interdisciplinary subfield of computer science. The overall goal of the
data mining process is to extract information from a data set and transform it into an understandable
structure for further use. Aside
from the raw analysis step, it involves database and data management aspects, data pre-processing, model and inference considerations, interestingness
metrics, complexity considerations,
post-processing of discovered structures, visualization, and online updating. Data
mining is the analysis step of the "knowledge discovery in databases" process, or KDD.
The term is a misnomer, because the goal is the extraction of patterns and
knowledge from large amounts of data, not the extraction (mining) of data itself. It also is a buzzword and is
frequently applied to any form of large-scale data or information processing (collection, extraction, warehousing, analysis, and statistics) as well as any application of
computer decision support system, including
artificial intelligence, machine learning, and business intelligence. The book Data mining:
Practical machine learning tools and techniques with Java (which covers mostly machine
learning material) was originally to be named just Practical machine learning, and the term data
mining was only added for marketing reasons. Often the
more general terms (large scale) data analysis and analytics – or, when referring to actual methods,
artificial intelligence and machine learning – are more appropriate.
The actual data mining task is the automatic or semi-automatic analysis of large quantities of data to extract
previously unknown, interesting patterns such as groups of data records (cluster analysis), unusual records (anomaly detection), and dependencies (association rule mining, sequential pattern mining). This usually
involves using database techniques such as spatial indices. These patterns can then be seen as a
kind of summary of the input data, and may be used in further analysis or, for example, in machine learning and
predictive analytics. For example, the data mining
step might identify multiple groups in the data, which can then be used to obtain more accurate prediction
results by a decision support system. Neither the data
collection, data preparation, nor result interpretation and reporting is part of the data mining step, but do
belong to the overall KDD process as additional steps.
The related terms data dredging, data fishing, and data
snooping refer to the use of data mining methods to sample parts of a larger population data set that
are (or may be) too small for reliable statistical inferences to be made about the validity of any patterns
discovered. These methods can, however, be used in creating new hypotheses to test against the larger data
can benefit from Data mining?
Data Mining is a very powerful tool for businesses. Its accuracy in prediction of trends is
80%. Whether is it approprate in timing and business models utilised for business activities can be
forumulated based on huge data. Data Mining will take into consideration the total data to analyse the
situation before conclusion is drawn. Data Mining can go very deep -- e.g. zeroing into companies, sectors,
industry, etc. It takes into consideration not only statistics (structured data) but also unstructured data
such as trends, sentiments, market condition, political and etc.
Data Mining can be
used in the following areas:
Planning to Expand Overseas
The country your business plans to expand into, is it receptive to your business? Is the industry you
are in a sunset or sunrise industry in that country? Who are the major players in the country? How is
the economy of the country? What industries it lacks? How is the political situation? And much more....
- Appropriate of business models used
Can your current business model survived in current business conditions? Can you change your current business
model to grab a bigger market share and maintain the lead? Don't forget Nokia and Motorola died because of
their failure to change to suit the current trend. Data Mining is very good tool to identify changes required
to remain relevant.
And much More!
Recent US Election
Everybody was forecasting that Clinton will become President. The Poll, newspapers, TVs and social
media are all out to support Clinton. Yet, Trump came in as President to the shock of the
Clinton used only one platform in addressing the people in all states. Whilst Trump used technology by
tapping into the "Big Board" Data Mining (it gives real time informaiton about situation in the local
areas - e.g. weather, news, etc). If you watch his speeches in the rallies in various states, you will
note that he talked about different issues specifically to each state. That is he is addressing the
main concerns of the voters.
My partner, Anoop, who is an expert in data mining, was working in UK when the British was talking
about Britain exiting EU. From his data analysis, he knew that Briexit will go through.
He took actions to sell all his assets (UK stocks, properties, etc) and moved overseas to Singapore.
The rest is history.
What will happen to Singapore
the next 5 years?
Everybody knows and senses
that Singapore economy will be bad for next few years. But how really bad will it be? There are
too many bad indicators for Singapore.
These will / may happen to Singapore next 5
SGD will weaken against USD
Interest rates will go up
Foreign investments pull out from Singapore (already
Many more SMEs will go belly up due to unable to make profits (already
More retrenchment and people out of jobs (already happening)
Economy slow down or even goes into negative growth
Neighboring countries overtake us in economic growth
Singapore loses its importance as a deep sea port (thanks to China)
Foreign Talents (FT) will move back to their own countries as they can't survive in Singapore due to
bad economy and high cost of living.
More crimes (already happening)
Banks will have alot more bad debts (already started to happen)
Singaporeans will kpkb (make noise) more against the government (already in social media)
Those who are well to do will move their cash and assets overseas
Due to weak economy, properties price will plunge making many estate agents joining the rank of
unemployed (alteady happening).
Retailers will cry for help as less people has the money to shop. There will be many shops in large
shopping malls vacant.
Rental will drop drastically for both commercial and residential because of lack of tenants.
Domino effect of bad debts will affect everybody
....And much more.
Anoop, my partner, predicted that within 4 years time, CBD will have 60%
reduction in tenants. What does this means? It is getting scary.
So if you run a business in
what can you do?
Do nothing, sit back and relax and believe wholesale that everything will soon pass. Like what PM Lee
said, although Singapore economy is not gowing, it is still okay because the government has plans to
move economy to other industries and find new ways to create jobs and prosperities; OR
Do something to protect your business from ending up as a casaulty.
If your business is MNC or have deep pocket, you can always move your operation to another country
which is more conducive for business. For SMEs who do not have deep pocket, you have to sit down and
think hard what to do.
For SMEs, the choices are limited. Click Here
if you are interested to
discuss about your concerns for your business future.
If your business is in these
you'd survive the coming bad times.
Disruptive technologies (DT)
DT such as Uber, Airbnb, Grab, etc are good example. Uber is the largest taxi operator and they don't
even own any vehicle! If you can think of a DT business model and has the funds and technical expertise
to develope it, then your chance of making it big and good is high. However, the road to success will
be long and narrow and require much hard work.
(other than property, insurance, funds, CFD and stock)
to learn how.
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to learn how
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