What is Data Mining and Why to Do It?

What is Data Mining and Why to Do It?

1. is a bussines process or exploring a large ammounts of data to discover meaningful patterns and rules

   • Data Mining is a Bussines Process
     • Does not have a bigining or an end
       • 1.Data 2.analysis 3.creates data 4.data mining repeats
     • Virtuos Cycle
       • • • Planning for a new product • Panning direct marketing • Understanding custumer attrition • Evaluationg results • Allocating marketing bagdes
         • • Incorporating results into automated recommended systems • Prioritizing cust service • Adjusting inventory levels
       • Data mining in the context
       • Transforming bussines data in to actionable results
   • Data mining can leverage data where simple desktop tools cant
   • Meaningful patterns and rules
     • The goal of data mining is to find patterns that are useful for the bussiness

2. CRM

   • improve the company´s ability to form learning relationships with custumers
     • Notice
       • What its custumers are doing
     • Remeber
       • What it and its custumers have done over time
     • Learn
       • From what it has remebered
     • Act
       • on what it has learned to make custumers more profitable
   • Data minign its a collection of tools and techniques
     • Sales
     • Marketing
     • Cust service

3. Data mining has cought on in a big way, increasing dramatically

   • 1.Data is being produced 2.Data is being warehoused 3.Computing power is affordable 4.interest in CRM is strong 5.Cemmercial products are readily avilable

4. WHO?

   • skills with numbers
   • basic statistics
   • Lack of fear for large ammount of data

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