DATA MINING LEADERS BRING DATA MINING TO THE MASSES WITH NEW PROCESS MODEL
The world's data mining leaders are now sharing the winning methodology that enables data mining projects to achieve higher returns on data warehousing investments. SPSS Inc., NCR, DaimlerChrysler and OHRA announce CRoss-Industry Standard Process for Data Mining (CRISP-DM), a comprehensive data mining methodology and process model created for both novices and experts by this consortium of industry experts with input from approximately 200 representatives from other companies. The CRISP-DM model offers step-by-step direction, tasks and objectives for every stage of the process, including business understanding, data understanding, data preparation, modeling, evaluation and deployment. A document describing the methodology is currently available for downloading from the Web at http://www.crisp-dm.org. The complete methodology and relevant case studies will be included in a publication targeted for delivery in late 1999.
The CRISP-DM model makes large data mining projects faster, more efficient and less costly by enabling users to take advantage of an already-proven process. The model helps people avoid common mistakes and provides a head start in:
SPSS Inc. joined NCR, DaimlerChrysler and OHRA to create the model in January 1999, after acquiring consortium member Integral Solutions Limited (ISL). Since the project's beginnings in 1997, the CRISP-DM Special Interest Group (SIG) has also followed and supported the consortium's work on the model. The SIG has more than 200 members worldwide and includes large-scale data mining users from a wide span of commercial industries, as well as data mining software and service suppliers. The broad range of experience involved ensures that the CRISP-DM model applies to businesses in any data mining application - including fraud detection, credit risk, customer retention and churn analysis.
"This methodology represents a collaborative effort of top thinkers in data mining, and SPSS is proud to contribute to its development," said Jack Noonan, president and CEO of SPSS. "Because CRISP-DM is a compilation of knowledge gained through years of experience, it enables consultants and business people to leverage the knowledge of industry experts. SPSS customers are already benefiting from the model, through smarter data mining training courses at SPSS and the increased efficiency of the data mining projects from SPSS Consulting."
Data mining plays a part in the success of many of today's businesses by helping to identify the hidden patterns in customer data that can improve customer relations, increase revenues and reduce costs. Once discovered, this knowledge enables companies to leverage their information and experience to make more accurate predictions and better decisions.
The CRISP-DM initiative is partially funded by the European Commission.
SPSS Inc., a multinational software and services company, is a leader in business intelligence, especially data mining and customer relationship management. The company also leads in three vertical markets: survey/market research, quality improvement and scientific research. With products running on all major computer platforms and translated in several languages, SPSS helps organizations leverage information to increase revenues and improve processes.
Founded in 1968, the company has more than 40 offices, nearly 900 employees and 1998 revenues of $121 million. The company also has won the following awards: named No. 28 in DM Review's Data Warehouse Top 100; placed No. 21 on the 1998 Soft-letter 100, a ranking of the top 100 personal computer software companies in the United States; and No. 97 in the 1999 Software 500, a ranking of the world's largest software vendors by Software Magazine. Headquartered in Chicago, SPSS has offices and distributors around the world. For more information, visit http://www.spss.com.
SPSS information is available on the World Wide Web through the SPSS Press Center at: http://www.spss.com/press.