My Style Shoe Store Essay Example | Topics and Well Written Essays - 1500 words

My Style Shoe Store - Essay Example Starting off the store would just be a one brand store because of high customization that is available for the customers there hardly is a need to develop alternative shoe brands, this is so because different brands are made to cater to different segments of society and people but when people can choose the material, design and design that the shoe would consist of there hardly exists a need for having multiple brands of the shoe. In addition to this just having one brand while starting off would make it easier for the store to publicize its uniqueness and would make it easier in terms of costs and marketing activities plus it would be easier for the brand to cut through the clutter of different brands by different companies and hence it would prove very beneficial for the store in the early stages of its development in the market on the whole. In today’s environment it is very important for any upcoming business idea to be unique so that it is able to differentiate itself from the existing brands in the market just not for the sake of differentiation but also because there are market leaders that would not want the market to be penetrated by new comers and hence uniqueness is the answer to the stifling competition that every company faces in this modern day era. What better way would there be to cut through this clutter than the use of technology and at that state of the art technology to cut through the competition and hence the idea of a store where customers are given the maximum customization opportunity- your shoe, you design it! This is the basic theme of the endeavor that we have in mind. The finances for this store have been made through individual contributions made by the partners as well as funding through bank loans because the technology that had to be used in the store had to be specially developed an d hence was costly but this kind of technology has been patented

Data mining Essay Example | Topics and Well Written Essays - 500 words

Data mining - Essay Example t generally apply: every application must deliver benefits to the users; users must feel comfortable with the way in which the system manipulates and presents information. Data mining is based on statistical analysis and modeling techniques, Data mining becomes a strategic weapon of organizations because it increases significantly the volume of information that can be stored and the ease with which it can be updated. This enables new services to be provided in a way that was not economically feasible before. The three main steps in data mining are discovering, predicting modeling and forensic analysis. â€Å"Discovery is the process of looking in a database to find hidden patterns without a predetermined idea or hypothesis about what the patterns may be† (Pushpa 2007, p.1). Discovery consists of three subcategories: conditional logic, affinities and associations, trends and associations. â€Å"In predictive modeling patterns discovered from the database are used to predict the future.† (Pushpa 2007, p. 2). Predicting modeling involves outcomes prediction and forecasting. Most of the data mining applications used by an organization consist of simply taking information in one form, performing some very simpl e transformations to that information (rarely more than aggregation and the usual arithmetical operations of addition, subtraction, multiplication and division) and then presenting the processed information in another form. Thus, forensic analysis allows both deviation detection and link analysis. It is defined as: †the process of applying the extracted patterns to find anomalous or unusual data elements† (Pushpa 2007, p.2).The underlying architecture of data warehousing that an organization needs to best perform these tasks is obvious. There must be some form of flexible, central data store containing all the information and data that are going to be manipulated, fed by a variety of information-gathering processes. The main data mining techniques are