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Importance Of Data Mining In Today’s Business World

What is Data Mining? Well, it can be defined as the process of getting hidden information from the piles of databases for analysis purposes. Data Mining is also known as Knowledge Discovery in Databases (KDD). It is nothing but extraction of data from large databases for some specialized work.

Data Mining is largely used in several applications such as understanding consumer research marketing, product analysis, demand and supply analysis, e-commerce, investment trend in stocks & real estates, telecommunications and so on. Data Mining is based on mathematical algorithm and analytical skills to drive the desired results from the huge database collection.

Data Mining has great importance in today’s highly competitive business environment. A new concept of Business Intelligence data mining has evolved now, which is widely used by leading corporate houses to stay ahead of their competitors. Business Intelligence (BI) can help in providing latest information and used for competition analysis, market research, economical trends, consume behavior, industry research, geographical information analysis and so on. Business Intelligence Data Mining helps in decision-making.

Data Mining applications are widely used in direct marketing, health industry, e-commerce, customer relationship management (CRM), FMCG industry, telecommunication industry and financial sector. Data mining is available in various forms like text mining, web mining, audio & video data mining, pictorial data mining, relational databases, and social networks data mining.

Data mining, however, is a crucial process and requires lots of time and patience in collecting desired data due to complexity and of the databases. This could also be possible that you need to look for help from outsourcing companies. These outsourcing companies are specialized in extracting or mining the data, filtering it and then keeping them in order for analysis. Data Mining has been used in different context but is being commonly used for business and organizational needs for analytical purposes

Usually data mining requires lots of manual job such as collecting information, assessing data, using internet to look for more details etc. The second option is to make software that will scan the internet to find relevant details and information. Software option could be the best for data mining as this will save tremendous amount of time and labor. Some of the popular data mining software programs available are Connexor Machines, Free Text Software Technologies, Megaputer Text Analyst, SAS Text Miner, LexiQuest, WordStat, Lextek Profiling Engine.

However, this could be possible that you won’t get appropriate software which will be suitable for your work or finding the suitable programmer would also be difficult or they may charge hefty amount for their services. Even if you are using the best software, you will still need human help in completion of projects. In that case, outsourcing data mining job will be advisable.…

What is Stopping You From Achieving Your Goals?

It is the end of January and what has happened with your ‘new years resolutions’? Have what most people consider their goals, gone by the wayside already? What about other goals you set throughout the year – do they come to fruition or do you falter on those? When we fail to achieve our goals not only do we fail to achieve the changes we identified as being desirable (the purpose of the goals) but we also do our self-esteem harm. If you have tried to lose weigh every year for the last twenty years and not achieved what you set out to do, you may feel a failure. Why bother this year… you never win? Sound familiar?

There are many reasons why people fail to achieve their goals. The top ten reasons are listed below. Have any of these held you back in the past? Identifying what it is that prevents you following through and successfully implementing changes in your life might be what helps you succeed with your next goal.

  1. Waiting for something to happen? I will start on Monday; I will start once the kids go back to school. When you first set a goal you are most passionate about it. Start then. The longer you wait to start, the less likely you will be to get things done. Starting, even a first step, builds momentum.
  2. Not knowing what you want. In our society thinking of others before yourself is encouraged and thought of as praise worthy. We are not encouraged to know ourselves and to pursue our dreams, those things that make us happy. Constantly putting oneself last makes it difficult for you to truly identify what you want and what your priorities for your life are. Goals you set that actually represent what other people want will rarely come to fruition. Your goals have to represent what you want. Learn to dream.
  3. Thinking you need to tackle the whole project at once. Sometimes the sheer size of a project can be daunting and discouraging. By breaking a large project into smaller task, setting milestones along the way and celebrating the achievement of each milestone keeps us motivated and makes achieving a large project much more likely. Take a bite and chew, then take another bite…
  4. Failing to set goals. Some free spirits believe that setting goals would impose a rigidity on their life that they resist strongly. Setting goals does not constrain you or take away from your freedom. In fact it helps gain clarity and increases your personal freedom. 90 percent of people who set goals achieve them. Everyone’s life is directed by goals so remember if you don’t live your life by your goals, you will be living by someone else’s.
  5. Fear of failure. Some of our best lessons in life come from learning from our mistakes, yet we as a society place such a stigma on ‘making a mistake’ that they indulge in blame and self-criticism when ever things don’t go as

Workers Compensation Retrospective Rating Plan

Using a simplified definition, a retrospective rating plan (retro) is a pricing plan available in which your workers compensation premium is developed, in its final form, by the losses sustained during the policy period.

First let’s go over the components of a retro:

Maximum Premium: This factor represents the percentage over and above the standard premium, which can be collected in the event of adverse loss performance during the policy period. Example: A $50,000 policy with a 1.25 (125{4917788a0bd7aa7369c2a945027b4fe6c9853cda4150a24fe1255b18ce3083dc}) maximum could potentially be billed $62,500 if you had a high claims amount. This factor is part of the negotiating your agent should do on your behalf. It is subjective and set by the underwriter.

Minimum Premium: This factor represents the ultimate return to the insured in the event you had no losses. Example: The same $50,000 policy with a.60 (60{4917788a0bd7aa7369c2a945027b4fe6c9853cda4150a24fe1255b18ce3083dc}) minimum premium would pay only $30,000 in premium if you had no losses. This factor is in direct correlation with the maximum. The higher the maximum, the lower the minimum and visa versa. In other words, take more risk get more reward, take less risk get less reward.

Loss Conversion: This factor represents the cost the insurance company is going to charge you to administer the claims you incur. Example: The retro is issued with a 1.10 (10{4917788a0bd7aa7369c2a945027b4fe6c9853cda4150a24fe1255b18ce3083dc}) loss conversion factor and you incur a $10,000 claim. The insurance carrier will calculate this claim as $11,000 ($10,000 x 1.10 = $11,000). This factor is also negotiable and set by the underwriter. This factor has a direct correlation with the minimum. The higher the loss conversation factor the lower the minimum premium and visa versa.

Tax Multiplier: Because retro’s deviate from the standard policy pricing, which has the premium taxes the insurance company pays included in the premium the tax multiplier is shown separately on the retro. This factor is set by the state and is not negotiable.

Now that we have covered what the “factors” represent, here is an example of how a retro is calculated. In this example we will use a $100,000 standard premium and $40,000 in losses the following factors (The factors vary by insurance company these being used are only an example):

  • Maximum: 1.25
  • Minimum.50
  • Loss Conversion: 1.10
  • Tax Multiplier: 1.07

$100,000 (standard premium) x.50 (minimum premium) = $50,000

$40,000 (losses) x 1.10 (loss conversion factor) = $44,000

$50,000 Minimum Premium + $44,000 losses plus conversion factor = $94,000 premium

$94,000 premium x 1.07 Tax Multiplier = $100,580 final premium

In this example the final premium after the calculation was not above our maximum premium of $125,000 (standard premium x maximum premium factor) so the final premium remains as calculated.

Because the losses were high in relation to the premium size this retro did not work in favor of the policyholder costing $580 more than a standard policy would have. However, using a total claims amount of $22,000 following the same calculation formula the final calculated premium would have been $81,620 saving you $18,380 on your …

Importance of Business Forms

Anybody interested in taking their business to the next level will probably be thinking about getting business forms. Customers are always impressed by good forms because they exude professionalism of the company. There are business owners who get customised forms to streamline their organisational procedure and do it in a big way getting successful all the while. There are several software in the market that aims to elevate your business dealings to the next level by providing good quality, printable interactive business forms.

These electronic business forms are built with a speed and precision that can never be compared to any paperwork. Not only that, the e-business forms allows for faster interaction with the target segment because they are sent across as emails and attachments. It is also received well by the target audience because they don’t have to do any writing work to get the forms filled.

There are different formats of business forms depending on the templates that you download from the net. Programming languages like Java and ABAP create first class interactive business forms that are appreciated by the clients because of the ease of use. Once these templates are downloaded from the internet, they can be customised to suit different needs that come with the nature of the business. There are some forms that you can integrate and create new ones. These are mostly done for industrial, banking, educational and government purposes.

Sending customisable forms makes your business more classy and professional. It is an investment that you will have to make, but the returns are worth the money you spend on it. There are several free business templates that you can download from the net. These templates files come with all the basic functions that you would need. These can be later tailor made to suit your requirements. Some of the websites that offer free download-able templates also allow them to be printed, so that makes the job much easier for you. Getting these forms also saves a lot of time and money because the reach is more and you can be sure that they actually get them instead of it going into the trash can. These online business forms encourage people to respond and interact.…

Starting a Taxi Business in Uganda? There Is More Than Meets the Eye

A typical investor in the taxi business in Uganda is going to encounter two key issues even before they start making their first shilling. I explain these issues below.

When I first bought a used taxi from my grandparents, I took it for repair to a mechanic in the Wandegeya suburb. He “over hauled” it and told me it was in perfect condition. One week later, the differential had developed a few problems. Next the crank shaft had a few issues. I eventually over came these issues but then came the witchcraft story.

A typical Ugandan reader is probably surprised that I haven’t raised the issue of business and witchcraft before. It seems many Ugandans firmly believe that going to the witch doctor and giving your last white goat(and with no spot of black) is going to turn your business into an overnight success even if you cannot differentiate(no pun intended) between cash as profit(which you can use as dividends) and cash from sales(which you should not use until all expenses are settled).

So the witchcraft story is this; I hired my cousin John [not real name for obvious reasons] to work as the taxi’s first conductor. He according to the family rumour mill “bewitched” the taxi because:

*Day 1. The suspension broke.

*Day 3: The crank shaft developed further problems.

*Day 5. The differential was shaking again.

*Day 7: The taxi knocked someone crossing the road at Ndeeba.

In the 1 month that the taxi was in business, I made only Shs 7,000! Oh, I used that to bail out the driver at the police station. I am not one to consider the validity of the witchcraft story but that brings me to the taxi business and factors to consider if you are to invest in it.

First the CONS (of course)

1. Mechanics without ethics

There is a possibility that when I took the taxi for refurbishment, the mechanic to whom I entrusted the repair provided me with a pro-forma invoice for parts he didn’t install, obtained them second hand or third hand or even that he didn’t carry out all the necessary repairs. How could I verify that with no knowledge of the intricacies of a car, let alone a second hand taxi from Bungokho?

You can of course get round this issue by instead taking your Toyota Hiace (the predominant model used for taxi business in Uganda) to Toyota Uganda’s repair workshop. Don’t expect of course to pay Shs. 7,000 for repair. They use computerised diagnostics and their mechanics use a logging system to bill you by the hour. Oh and of course they use new and genuine parts so forget that used crank shaft your mechanic Kakooza will find you from Kisekka market. As per the Toyota Uganda website, you can expect to start paying for servicing for a Toyota Hiace Model from Shs. 183,900.

2. Difficulty of revenue verification

Unless you are driving the taxi yourself or install cameras just like the London Buses …

Application Software in Business Activities

Business is any activity undertaken by an individual or a group of person with an intention to make profits. A business engages in various activities like planning of resource, scheduling of activities, coordinating and other managerial activities. All these have to be completed in time in order to generate maximum profit in the production. Prospective entrepreneurs should adhere to these objectives.

Much of business time is put waste when it handles its tasks through the use manual system. This necessitates to the use of the software, an automated means which is efficient-oriented. Examples of the software in business application include the Decision Support System, Transaction Processing system and Management Information System. They can be largely used in resource planning where an enterprise defines way to achievement.

Collaborative resource planning software provides the business people with adequate and reliable information. Marketing information and bureaucracy of the enterprise is unambiguous. Previous methods that contributed to the failures can be fully noted. This enables the enterprise to opt to use other successful means in use elsewhere. An efficient resource planning software helps you to generate and retrieve information about resource allocation in form of detailed niche reports. As a result, time as a resource is much conserved and can be used in other productive areas.

Boundaries are clearing defined by the software. The business is expected to work towards the laid limits by the legal authority, operational, technical, economic and social feasibility. Beyond the predetermined extents, no productive operation can be encountered.

Scheduling of activities is best in practice via use of the software. The order and the way in which operation is accurately developed by use of the program, this results into application of qualitative business techniques, where there is matching of skills and jobs to done. The enterprise standards of performance are maintained. Cases of underemployment or over employment are eradicated. In turn, employees’ are encouraged to exercise creativity and innovation in right of their propelling positions, and hence works towards achievement of objectives of the business.

Planning software makes efficient forecasting of resources. Unknown future is determined prior. Situations like inflation, competition increases government provision of subsidies and technological changes can be adequately known. The fallout is to relay strategies to deal with upcoming challenging matters.

Top echelons (management) benefits significantly in software application. Executives’ unstructured decisions are accurately established. They rapidly derive information from the software. For example, decisions on where to establish a new firm or a branch, whether there is funds to finance multiple projects.

Management need to store information in reliable source (in software). This is used for swift evaluation of business performance. They can decide to reward the best performing employees based on the results retrieved from the software. This motivates employees to work zeal and confidence. Their individuals objectives are harmonized to entire business objectives.

Managers use software to control the progress of activities. Those deviating from the predetermined plans can be precisely noted. Management can also rely on software for marketing of its …

The Advantages of Having Personal Productivity Software

Personal productivity software is an application that no business should be without. This is because of the simple fact that this piece of software makes a great contribution when it comes to ensuring productivity in the workplace. But if you are not too convinced about the importance of purchasing personal productivity software just yet, well, this is actually normal. A lot of business men do become wary when presented with the notion of purchasing such software because computer software is a bit pricey in the market right now. However, when presented with the many benefits businesses enjoy with these software applications, the activity of convincing businessmen becomes very, very easy to do.

So, why exactly do you need personal productivity software in running your business? First of all, this piece of software can give any type and size business the professional touch it needs. The software comes with applications and programs that make it very easy for you to produce professional looking letterheads, marketing reports, brochures, mailing campaigns, and the like. Even the simple act of developing professional looking paychecks is easily done with the use of such software as well. And this is just one of the minor benefits that come with such software!

When you get the basic package, you actually get a word processor, a spreadsheet application, presentation software, and the like. For a more cost-efficient option, you could consider getting one of those suites that contain a number of these tools. This way, you are sure to get more value for your money. Some examples of these suites include Microsoft Office, Sun Staroffice 8, Microsoft Works, or Corel WordPerfect Office. An interesting fact about Microsoft Works is that it actually comes free with personal computers. Aside from these suites, you can also choose to get supplementary software packages that can make your whole life easier.

One of the popular software packages includes QuickBooks. This choice is popular because it is known to be very efficient in handling and managing inventory and business finances, such as payroll and benefits packages. Now, with all these abilities, you have to be sure to allot a hefty budget for your suite of tool and the additional applications and programs you would be getting. The typical price for suites and the individual applications range from a hundred to five hundred dollars. So, if your PC is meant for more than just doing the regular email and the basics on word processing, then you should consider this option thoroughly.

You may also be worried about the hidden and recurring fees that might come with having personal productivity software installed in your system. Yes, they do come with long term costs, but these are just minimal when you compare them to the benefits you would come to enjoy with the software. An upgrade would occasionally be needed, especially after a few years or so with your own application suite. Plus, your business should be growing in a few years, right? Thus, it would …

The Power of Blessing Your Money

We all know that, to open the channels of abundance and prosperity we need to bless money and those who have it and use it for the good.

Of course, it is not up to us to judge why a person needs to use the money to buy expensive cars and mansions when half the world is starving. We also need not judge the actions of others. This is not how prosperity comes about. Accepting the fact that it is all right that others have money and property is an important step in opening up our channels. That means that, if there is money for others, there is also money for us. The Universe is very generous and there is enough for everyone.

So you need to bless. There are several things that you can do to start right now. Here are some of them.

1. Bless your money

You may think that you can’t bless it because you don’t have any. Not true. It doesn’t matter how much you have, as long as you focus on it, and not on how much you don’t have. Think about the amount you have and bless it. I love to say the following affirmation when I think about my money: “Divine Love blesses and multiplies all that I have, all that I give, and all that I receive.”

2. Bless your stuff

What are your possessions? Bless them all. You will realize that you have much more than you think you do. Bless you refrigerator, your washing machine, your car, your furniture, your decorations, your lamps and shades, your telephone, your computer, your dishes and silverware, your toiletries, your pens and papers… You get it.

3. Bless your bills

Now this one seems to be the most difficult. Who wants to bless the credit card bills? Or the phone, or the energy bills? However, your bills reflect great abundance because they tell you that you have been enjoying certain things that you deemed important or necessary, and that made you live more comfortably or that made you feel good or that helped you achieve something. For example: you used your credit card to pay for gas. This gas made your car take you to places you wanted or needed to go. Bless the gas bill.

4. Bless your source of money

Now, here you have two choices and you want to bless them both. The first is your job, which is one source. Even if you don’t like your job, remember those who don’t have one and hence, don’t have this luxury of making money on their own. The second source is the Universe, or God. When you trust that “God provides” you let go of mistrust and you will notice that the Universe has always something for you, no matter how difficult is your present financial situation.

5. Bless others

If you see a car that you like, bless the car and the driver. If you see a house that appeals …

Turn a Life Casting Hobby Into a Profitable Profession

You have indulged your hobby of making molds and casts. Now you are not only proficient in clay modeling and resin or silicone casting but have also become quite skilled in the art of life casting. You can deftly capture a mold of a hand or foot or even face and reproduce a striking likeness complete with the minute hair, pores and other marks.

So why not turn this passion for casting and life casting into a part time or even full time profession?

The What ?

Your artistic passion can easily become a potential lucrative business.You can offer various services like clay modeling, silicone or resin casting, latex rubber masks and so on.

Or you might consider specializing in creating only life castings. The demand for memorable it, is not only huge but growing by the day. It is not limited to selected moneybags in the community anymore. Even ordinary people like you and me are looking to capture a slice of themselves or their loved ones and preserve it for posterity. Especially infant casting and pregnant belly castings are enjoying increasing popularity.

What's more, more and more people are turning into this as a singularly unique gift to mark a special occasion for a friend or family member. It is indeed the perfect way to freeze a beautiful memory forever in a lovely time capsule.

Therefore, they will look out for a skilled and experienced artist who can recreate a realistic and perfectly detailed reproduction without harming the model in any way. And this is where you will come into the picture!

The How?

But, do you know how to actually go about getting this business underway?

The answer is to network with professional artists and glean tips on the legalities of how to enter the business. You can take part in various online forums to discuss not only tips on it and mold making but also gather useful information on workshops, shows and leads on other websites to visit.

Additionally, you can become a member of the Association of Lifecasters International – or ALI as it is often known. This is a worldwide artists' guild that promotes public awareness of life casting and eagerly assists serious life casters in every way possible. Membership is free and you just have to agree to abide by the ALI Code of Conduct. This will open the door to a wealth of life casting information, marketing tips and inspirational ideas.

A top art studio is also more than willing to extend personal advice, promotional material and all the resources you will need to start a profitable life casting business. The company further supports fine artists by making selective purchases that are added to its life casting collection.

Nothing can stop you from stepping into the life casting business now! …

Know This When Bringing a Personal Trainer Into Your Apartment Building Gym

As more and more New York City apartment buildings look to attract new buyers and renters, there is an ever grow list of amenities being offered. This can range from a doorman and/or a concierge on premises to an onsite gym, space permitted, for residents. Most buildings will let residents bring in their own personal trainers to work with them.

Often the gyms are maintained by the building or an outside company, while equipment maintenance is handled by authorized technicians. However,, like a beach with “no lifeguard on duty,” many of these facilities do not have a fitness staff. Residents can use it unsupervised.

In these cases, should a resident wish to bring in a personal trainer, it is best to check with the building management or a board member on procedures. Often, all that is required is proof that the personal trainer is certified and insured. Copies of both documents will most likely need to be submitted to the building management company to be kept on file. They want to make sure that the resident, trainer, and the building’s assets are legally protected in case of any accidental injury. While most building do not charge to allow a trainer on premises, keep in mind that other buildings may have a fee in place for personal trainers nyc training clients in the building. This fee can be as much as $15 per session or a flat annual membership fee to train in the building. This can be a better deal for the personal trainer if they have multiple clients in that building, as well as a good source of revenue for the building.

Commercial buildings are also getting into the onsite gym game. Some buildings allow individual companies to construct a facility for their own employees. Still others will establish a facility in which all commercial tenant employees can access. Not only does this improve the amenities to the corporate tenants, but it provides a person with additional exercises choices throughout the day.

The great thing is that you can find personal trainers in NYC that can meet you anywhere you need them, at home, at the office, or anywhere in between. New York City is full of independent Personal trainers ready to work with you.…