Data mining applications in Singapore

• Main Authors: Ang, Chung Lay, Loh, Heng Meng, Tham, Tuck Kong
• Other Authors: Tung Lai Lai
• Format: Final Year Project
• Language: English
• Published: 2013
• Subjects: DRNTU::Business
• Online Access: http://hdl.handle.net/10356/51471
• Institution: Nanyang Technological University

With the ever increasing pace oftechnological advancement, data acquisition has become amazingly easy and painless. As such, data glut has become a problem worldwide, Singapore included. To make matterworse, traditional MIS techniques could not handle these masses of information effectively. It is with this mindset that we carry out this research project. Our report focuses on a new technology, Data Mining, which is thought to be far superior than existing data analysis tools, and its presence in Singapore. This report will concentrate on the current trends in Data Mining in Singapore. This is to be accomplished in two directions. Firstly, a survey is conducted to find out the extent of Data Mining utilization in Singapore and other related areas. Next, the results will be used to answer four research questions. This is to give a greater realism and dimension to our research. The findings of our study reveal that Data Mining is still a new concept in Singapore but is gaining strength. In addition, as the potential ofthis technology is enormous, businesses will be able to gain a better competitive advantage. We also discover that companies which are more likely to switch to Data Mining, need not be those with prior experiences in data analysis. Another interesting point is that the government, via the National Computer Board, did, in fact, put in much effort in promoting the technology in Singapore. However these efforts are perceived to be not enough in the eyes ofthe local industries. Finally, those Data Mining user firms tend to be large companies or MNCs. All these point to the fact that Data Mining will become more established in the future as the way of analyzing data. More companies will see the benefits and will eventually jump onto the band wagon as well. Finally, we hope that readers will gain as much from reading this report as we have in preparing it.