Social Media Data
Data Mining Processes Overview
Feedback
Establishing a Data Analysis Process
Building a Data Analysis Framework
Data Mining for Market Risk Assessment
Understanding Customer Needs
Using Big Data for Analysis
The Evolution of Data Analysis Techniques 
Data analysis has undergone significant transformation over the decades, evolving from basic statistical methods to sophisticated algorithms powered by artificial intelligence
...can be traced back to the early 20th century, where statistical methods were primarily used in fields such as economics and
social sciences
...The primary focus was on descriptive statistics, which summarized data sets through measures like mean,
median, and mode
...
Data Mining Processes Overview Data mining is a critical process used in the field of business analytics to extract valuable insights from large datasets
...This data can come from: Transactional databases Web scraping Surveys and questionnaires
Social media platforms Publicly available datasets 2
...
Feedback Market Feedback
Data collected about market trends and consumer preferences that impact business strategy
...Social Media Monitoring: Analyzing comments and discussions on social media platforms to gauge public sentiment
...
Establishing a Data Analysis Process Data analysis is a critical component of modern business strategy, enabling organizations to make informed decisions based on empirical evidence
...External Data Data obtained from outside the organization, including market research, industry reports, and
social media analytics
...
Building a Data Analysis Framework A
data analysis framework is a structured approach used by businesses to collect, process, analyze, and interpret data to drive decision-making and enhance business performance
...gathering relevant data from various sources, which may include: Surveys and questionnaires Transaction records
Social media Web analytics Market research studies It is essential to ensure that the collected data is accurate, reliable, and relevant to the business objectives
...
Data Mining for Market Risk Assessment Data mining for market risk assessment involves the use of advanced analytical techniques to extract valuable insights from large datasets to evaluate and manage risks associated with market fluctuations
...News and
Social Media Sentiment analysis from news articles and social media can reveal public perception and potential market movements
...
Understanding Customer Needs Cost-effective, large sample size, quantitative
data ...Social Media Analytics Analyzing customer interactions on social platforms
...
Using Big Data for Analysis Big
Data refers to the vast volumes of structured and unstructured data generated every second by various sources, including
social media, sensors, transactions, and more
...
Comprehensive Overview of Customer Analysis It involves the systematic examination of customer
data to understand behaviors, needs, and preferences, enabling organizations to make informed decisions that enhance customer satisfaction and drive business growth
...Social Media Analysis: Monitoring social media platforms to understand customer sentiment and trends
...
Reporting on User Engagement Improving Product Offerings: By analyzing engagement
data, companies can refine their products and services to better meet user needs
...Social Shares The number of times content is shared on social
media platforms
...
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