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STAMFORD, Conn.—October 5, 2004--As part of its ongoing effort to help users evaluate vendor offerings, META Group (Nasdaq: METG) today announced the availability of a METAspectrum(SM) report on the data mining market. Data mining tools cull through large data sets to provide predictive and prescriptive analysis. This information is used optimize business processes throughout the enterprise (e.g., identifying fraud, improving marketing campaigns).
META Group expects significant impact on the data mining market to come not entirely from data mining vendors themselves, but from business application vendors that are embedding data mining technology from these vendors. Embedding data mining directly into the business process enables recommendations and predictions to be provided in the graphical user interface (GUI) of the application. As a result, non-specialized users can receive direct value from data mining initiatives.
"The data mining market has bifurcated into a smaller technology-focused segment used by quantitative analysts and a data mining segment focused on a mass audience of less-technical business users," said Kurt Schlegel, senior program director at META Group. "Embedding data mining algorithms directly into business applications is a perfect conduit to reach the latter segment." Due to this growing channel, META Group expects the data mining market to expand 10% annually over the next few years, with services growing at a commensurate pace. In addition, specialty, niche-based offerings will continue to find their place.
META Group's METAspectrum(SM) methodology provides a framework for evaluating or selecting an appropriate IT vendor or product, simplifies the decision process, and enables more effective technology investments. META Group's research efforts, which adhere to META Group's commitment to objectivity, are conducted independently, based on industry best-practice research methodologies and subject to the highest levels of review by META Group's research community. To learn more about METAspectrum, visit metagroup.com/metaspectrum.
About META Group
META Group is a leading provider of information technology research, advisory services, and strategic consulting. Delivering objective and actionable guidance, META Group's experienced analysts and consultants are trusted advisors to IT and business executives around the world. Our unique collaborative models and dedicated customer service help clients be more efficient, effective, and timely in their use of IT to achieve their business goals. Visit metagroup.com for more details on our high-value approach.
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