Data mining refers to extracting information from a dataset and transforming that into a usable format for additional work. Data mining, as the name suggests, is the process of searching for nuggets of useful information to help support business decisions. It also helps analysts identify patterns in the data, such as clusters, anomalies, and dependencies. In essence, the purpose of data mining is discovery or insight, which would not be apparent from just a cursory look at the data. Data mining can be extremely useful for business planning and strategy.
While MarketSight is not a pure data mining solution itself, it is part of an overall solution and does share the same
approach as data mining tools. Its purpose is also that of discovery or insight, but it is optimized for working specifically with survey data.
MarketSight is a web-based software application used to analyze and report on survey data, using statistical testing to discover insight within the data.
Once survey data is uploaded to MarketSight, via the import of and SPSS, Excel, SAS, or Triple-S file or via our DataSync automatic transfer with leading survey tools, you are ready to begin the discovery process.
Like data mining, a quick look at the raw survey data might not tell you much. With MarketSight, you begin by defining a crosstab by simply dragging and dropping variables you wish to look at. You’ll see your results in minutes. MarketSight automatically selects the right statistical tests for you, so you don’t need to be a
statistics expert in order to analyze the data.
MarketSight also highlights areas of statistical significance within the crosstab, telling you that there are statistically significant relationships between some of your variables. You’ll want to focus on those sections. Optionally, you can display the name of the stat test that was used, as well as the calculated p-value. You might also want to look at other variables to check for additional insights.
When it’s time to document what you’ve found from the data, you can use MarketSight to create interactive charts and dashboards, which display multiple charts or crosstabs on a single page, or export these items to your custom PowerPoint template to prepare a final report.
MarketSight is fast, easy to use and provides client ready deliverables in minutes to help you highlight all of the key insights within your survey data.
If you need to analyze survey data, then MarketSight is an excellent option to consider.