MITACS advancing data mining techniques

Mathematics researchers are forging strong ties to businesses that see potential in applying advanced algorithms for new micromarketing initiatives. More than 350 business representatives and students attended a recent Montreal conference on data mining to learn more about how mathematics research can increase the accuracy and success rate of direct marketing and risk mitigation techniques.

Hosted by Mathematics of Information Technology and Complex Systems (MITACS), a Network of Centres of Excellence, the event drew an impressive range of businesses, not to mention sponsors that included Direct Energy, Rogers Communications Inc, SAS (the world’s largest privately held software developer) and Krispy Kreme Doughnut Corp.

“This is the first general conference we’ve held on data mining aimed at business and students,” says Dr Arvind Gupta, MITACS’ scientific director. “We try and focus on topics that resonate with both communities by offering speakers on real world applications and social and economic issues.”

Data mining has a host of direct marketing applications that allow firms to be far more precise and targetted when approaching prospective customers. Gupta says data mining allows firms to dig into geographic and lifestyle issues and Canadian researchers are achieving many advances that will help companies become more competitive and profitable.

“Working with companies like Bell Canada and Rogers allows us to develop better algorithms,” he says. “Micro marketing is the trend of the future.”

The Montreal conference is the second high-profile event held by MITACS in the past five months, following an Ottawa conference on network security last spring. While Gupta emphasizes that outreach is an integral component of the MITACS mission, he acknowledges that its first seven-year funding envelope is set to expire in 18 months. MITACS currently receives $3.6 million annually.

“We’re six months away from submitting our renewal application,” he says. “Right now we’re funding less than 10% of the proposals coming to us. We have funding partners but don’t have the funds, so we’re asking for a 50% increase.”

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