Oxford UK – November 2001, the world's leading provider of mathematical and statistical algorithms, the Numerical Algorithms Group (NAG), announces the launch of Data Mining Components - a wide-ranging collection of numerical algorithms designed to aid data mining modelling processes.
Data mining has emerged as a hugely beneficial process for helping organisations to identify specific patterns and trends within their customer and operational data. Today, it has evolved to such an extent that it is playing an essential part in applications in a range of business activities including bio-informatics, customer relationship management, e-business, fraud detection, web analytics and retail.
Specifically developed for the rigours of data mining, NAG Data Mining Components – statistical and machine learning software – are robust, reliable and accurate. Easy to integrate and use, they can be utilised at each stage of the modelling process – from data cleaning through data transformation to model building.
The Data Mining Components are designed to help developers to select the most appropriate modelling methods quickly and easily. They can be called in either ‘essential-inputs-only’ mode for rapid prototyping, or if necessary users can switch to ‘full interface’ mode for greater control and enhanced performance. This flexible approach enables the delivery of different levels of control depending on the nature and expertise of the wide range of anticipated users.
NAG Data Mining Components can be easily integrated into new or existing data mining applications addressing a variety of problems that typically arise in customer relationship management, fraud detection, financial forecasting and biotechnology software. By embedding the components in their applications, developers will have substantially more time to concentrate on the specialist aspects of their software, resulting in lower development costs and speedier delivery of a solution.
"The emergence of data mining in Europe calls for accurate and reliable numerical algorithms to be at the core of data mining applications," comments Brian Ford, Director of NAG. "We received numerous requests from organisations and researchers currently involved in data mining who wanted particular numerical and statistical routines for their applications. We have the experts at NAG to develop such a set of components and it seemed a natural progression to develop routines to aid this process. NAG is committed to developing products and services in response to current business challenges and, therefore, is delighted to launch Data Mining Components."
NAG Data Mining Components are designed to integrate easily into a broad range of applications including those developed in C++, Visual Basic and Java. At launch the components are available for Windows, Linux and Sun Solaris systems; other implementations may be available on request.