Financial analysis tools that are useful for different purposes are of many kinds. Most of these are readily available online. Financial analysis software for text mining and data mining are two such devices. Both methods are discussed in detail in the next section.

A characteristic of text mining is a method by which quality information can be obtained from a text. This text is structured so that data input to the command and is included within the pattern. Finally, the evaluation and interpretation is the process of production.

This form of mining usually text input format, and finding patterns in structured data, and finally evaluation and interpretation of the data processing. In this way we are familiar with is different than searching the web. The purpose of this method is to find unknown information. This topic is not that the research can be done with the analysis.

What is data mining? It is the process of extracting patterns from data. Today this information is very important to make changes. This particular marketing practices and fraud detection and monitoring is used. We may get hidden information from large databases of information.

Data mining tasks: modeling techniques, such as form of mining is used for the operation. For these techniques, if you complete a data warehouse and financial analysis should be integrated with the device. Are areas where some of the methods used are:

Pharmaceutical companies to analyze their sales force and need to reach your goal
Credit card companies and transportation companies with a sales force.
Furthermore, for large consumer goods companies in the mining technique.
With this method, a retailer point-of purchase sales position or customer information to develop strategies to promote sales.

Key elements of data mining:

Extract, transform and load transaction data on the server of the system sending the data warehouse.
Storage and management of database systems that are multi-dimensional nature of the data.
Processing of the data presented for the IT professionals and business analysts.
Current data for the analysis of application software.
Chart or table-like presentation of data in dynamic ways.

The main point of difference between the two types of mining that text mining is of course rather than structured text databases where data is to investigate whether the pattern.

Below are the data mining tools in the industry:

1. Practical miner
The device on the market of data mining tools has the best selection of ETL tasks. It allows combining, adding, sorting and filtering data.

2. Office Server 2007 SQL Server 2005 Data Mining Add – ins
These are big advantages of SQL Server 2005 predictive analytics in Office Excel 2007 and Office Visio 2007 to - Add ins. Add - ins you either a spreadsheet or accessible through your SQL Server 2005 Analysis Services instance by using external data in Excel 2007 to go through the entire lifecycle to make.

3. Rapid Less - Also known as Yale is a very broad and perhaps the world's largest open source data mining solution when it comes to. It is a large number of companies used by many organizations. Although it is open source, this device provides a safe environment outside the box and creates businesses and support services so you will not be left in the cold.

Author's Bio: 

Joseph Hayden writes article on Web Data Mining, Website Data Mining, Data Mining Services, Web Screen Scraping, Web Data Scraping, Web Data Extraction etc.