Big businesses and the need for data mining
Big businesses that have been around for a while are aware that their data information builds up into big operational files that are frequently challenging to access for marketing, advertising, sales, and other purposes. Data mining becomes necessary as a result (Ward and Peppard 45).
The process of data mining and the need for data warehouses
Data mining is the process of removing information from original databases and storing it in other databases that were built for reasons other than those for which it was originally intended. Data warehouses, which serve as locations to store corporate data, are necessitated by data mining in order to facilitate effective data mining. Computers used as data warehouses must be very fast and have large data storage capacity to accommodate all of the company's systems databases. They must also be free of other unrequired files. Because the process of creating data warehouses is tedious and time-consuming for large companies, data marts become the solution in that they are quicker and do not require scrubbing and reconciling of different databases. Data marts are index extraction systems; they can identify which data each database contains and how to extract information from various databases. The creation of data mines, data warehouses, and data marts thus helps to streamline business systems by reducing time and the costs of making future upgrades and implementing new systems. They also ensure easy access to business archives whenever they are needed.
7-2) The benefits of archiving and data retention
The business can strategize on investing in archiving data growth while adhering to the requirements for data retention (Bytheway 29). In the end, the organization will make great savings because of cost reduction on information ownership of both current and future data systems. The company will have an improved system for analyzing business market trends while gaining fast access to convenient data and it will have fast responds to business queries and audits.
The importance of data archiving and compliance
Archiving data enables reviewing and reporting of retained information for the purpose of internal and external audits (Hopf 56). Implementing a data archiving strategy enforces compliance of the organization's system users, which minimizes risk. Without compliance, sensitive data can be at risk of being hacked or the organization being penalized by corporate executives.
