Note by James R. Martin, Ph.D., CMA
Professor Emeritus, University of South Florida
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Technology Main Page
This article includes a discussion of data mining and some examples of how it is used. Data mining involves obtaining information from a variety of sources that is stored in a data warehouse. This information becomes the input for various applications that uncover relationships and trends related to customers and processes. These results are then used by managers and others to make better decisions. The graphic below illustrates the data mining concept.
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Related summaries:
Appelbaum, D., A. Kogan and M. A. Vasarhelyi. 2017. An introduction to data analysis for auditors and accountants. The CPA Journal (February): 32-37. (Summary).
Appelbaum, D., A. Kogan, M. Vasarhelyi and Z. Yan. 2017. Impact of business analytics and enterprise systems on managerial accounting. International Journal of Accounting Information Systems (25): 29-44. (Summary).
Bensaou, M. and M. Earl. 1998. The right mind-set for managing information technology. Harvard Business Review (September-October): 119-128. (Summary).
Davenport, T. H. 1998. Putting the enterprise into the enterprise system. Harvard Business Review (July-August): 121-131. (Summary).
Elliott, R. K. 1992. The third wave breaks on the shores of accounting. Accounting Horizons 6 (June): 61-85. (Summary).
Gregg, A. 2017. Start-ups embrace cryptocurrency to raise needed capital: 'Initial coin offerings' let companies raise money without ceding control. The Washington Post (December 4): A13. (Note).
Martin, J. R. Not dated. What is data mining? Management And Accounting Web. DataMining.htm
Martinsons, M., R. Davison and D. Tse. 1999. The balanced scorecard: A foundation for the strategic management of information systems. Decision Support Systems (25): 71-88. (Summary).
Tschakert, N., J. Kokina, S. Kozlowski and M. Vasarhelyi. 2017. How business schools can integrate data analytics into the accounting curriculum. The CPA Journal (September): 10-12. (Summary).
Williams, S. 2011. 5 Barriers to BI success and how to overcome them. Strategic Finance (July): 26-33. (Note).
