Data Mining essays

Data Mining essays In today's information age, many businesses rely on customer information for survival. Data mining is a relatively new and very important tool in aquiring knowledge on thier customers, spending habbits, geograpphical trends, and more. "Data mining is an information extraction activity which has as its goal the discovery of hidden facts contained within databases." What this means is its automated procedures used to find unknown patterns in order to make likely predictions such as consumer spending habbits. Eric Brethenoux, a research director for advanced technologies at the Gartner Group, is one of many who believes that datamining is a technology in which a company cannot afford to ignored. With present day data mining capabalities, it is now possible to spot trends in data in information companies stored from the past, creating a competative advantage for the company with the most information. The power of datamining lies in the way it does not rely on narrow human queries t o produce results, but instead uses technology developed in the fields associated with Artificial Intelligence. Using artificial intelligence, datamining can produce useful inferences concerning data that human analysts would never see. Data Mining can be used by many companies to find new customers and repeat business to previous customers. As stated before, many businesses rely on this use of data mining for survival. This is very helpful when deciding strategic target marketing. Without it, many businesses may not have enough customers to run a profitable and successful operation. Identifying inefficient operations within the buiness is another use for data mining. The findings pertinant to efficiency can save a wastefull business enourmess amounts of capital. Finding and understanding what is inefficient can be considered the first step towards finding an efficient system or met ...