The Data Mining Experts
What is Data Mining?
Data Mining is the process of analyzing data from different perspectives and summarizing it into useful information. This information can be used to increase revenue, cuts costs, or see where a particular area of your business needs adjusting. Data mining is usually accomplished through software that will analyze data and categorize it into easy-to-understand reports. Data mining allows users to analyze data from many different dimensions so that they can, categorize it, and summarize the relationships between all the sources.
What Can Data Mining Do?
Data mining is primarily used today by companies with a strong consumer focus in retail, financial, communication, and marketing organizations. Data mining enables companies to determine relationships between "internal" factors such as price and product positioning, and "external" factors such as economic indicators, competition, and customer demographics. This enables companies to drill down and look at all the information to see how it relates to determine the impact on sales, customer satisfaction, and corporate profits. Finally, it enables them to "drill down" into summary information to view detail transactional data.