Data mining yields information from which predictive models can be derived and then tested, leading to a greater understanding of the marketplace.
Information technology competency as well as a category of software technology.
The business application of data mining is broad. It can be used for everything from pharmaceutical research to modeling traffic patterns
Data Mining is the process of discovering patterns and relationships in large amounts of data. These patterns and behaviors are used to predict the behavior or customers and prospects.
A marketer uses the data by building “models” which act as a set of rules used to predict the value of a specific customer attribute.
Data mining is a process used by companies to turn raw data into useful information
In Data mining businesses can learn more about their customers and develop more effective marketing strategies as well as increase sales and decrease costs.
Data mining is the computing process of discovering patterns in large data sets involving methods at the intersection of machine learning, statistics, and database systems.
Data mining is an important part of knowledge discovery process that we can analyze an enormous set of data and get hidden and useful knowledge. Besides those advantages, data mining also has its own disadvantages e.g., privacy, security and misuse of information.
data mining applications in various areas including sales marketing, banking, insurance, health care, transportation, and medicine. Data mining is a process that analyzes a large amount of data to find new and hidden information that improves business efficiency.
Data processing is, generally, “the collection and manipulation of items of data to produce meaningful information.”
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B2B transactions requires planning to be successful. Such transactions rely on a company’s account management personnel to establish business client relationships.