I am interested in learning about using AI and data mining for system development. Can anyone suggest a good way and good software to start. I use excel a bit and see there are add in this area.

Depends a lot on your budget.

If you want to integrate to WeathLab then try an application that lets you develop models then compile to create a .dll you can use in WL.
I'd suggest Matlab or Peltarion.

I wouldnt go for an all in one tool like Tradecision or Neuroshell - too restrictive.

Matlab could probably be used as an all in one - but all teh components would be expensive (c$15000)

Thank you jayram. I have looked at a few products online and will look at Matlab and Peltarion. I was wondering if you are familiar with Alyuda's NeuroIntelligence or Forecaster XL? I am attracted to them because they claim to be intuitive and quick to learn, especially for someone with no background in the field. I do like to use Excel generally for regression and scatter plotting so something that uses Excel is a plus.

I'm still unclear about the distinctions between the concepts of forecasting and of Data Mining and how Neural Nets apply. I really need a good reference in the subject. There are many things written on the subject. Can you refer me to a one specific to what we do?

At the end of the day, I really would like to have the facility to enable automation of the process by which to discover relationships between data sets and some result( e.g. ROR for x days based on the values x days prior.)I'd like to do this in a user friendly environment that is efficient for this purpose.

Any further advise is much appreciated.

My research group focuses on enhancing trading strategies using neural networks.

For those looking to get an idea into what can be done using neural networks, you can see some of our published works at http://trading.it.bond.edu.au/

Good Trading,
Bruce

Thank Bruce. Appreciate it.