Data mining is widely used by large businesses to understand the market conditions and competitors. It requires complex algorithms to extract bulk data from reliable resources. There are tools for data mining which most businesses cannot afford because such data extraction is mostly a rare if not one-time process.
XML or extensible mark-up language is one of the popular ways to store the information on the web. It can be used by almost all the browsers and hence, can be used to store information in a better way. The platform is scalable, and it can be converted into other languages. XML follows a strict construct which requires good understanding of the language and methods.
Every business now considers data as its most precious asset. Rightly so because data-driven decisions are proven to drive businesses to success. As businesses expand their operations, it often becomes a challenge to manage the bulk data produced and procured by the business on a daily basis. Many businesses are adopting digitization which also makes it equally challenging to manage updated data on one side while also continue with the changes happening within the organization on the other.
Businesses strive on extensive amount of data which comes in different formats. Curating and consolidating data are huge responsibilities for which businesses often appoint in-house business documentation professionals. But most times, they are difficult to find or not an affordable solution for businesses. Furthermore, data management spans a wide arena that includes data extraction, sorting, entry, cleansing, indexing, storing, conversion and reporting.