Improve the effectiveness and efficiency of your organization based on patterns in your customer database
Data mining is a field at the intersection of computer science and statistics. Data mining is the process that attempts to discover patterns in large data sets. It utilizes methods at the intersection of artificial intelligence, machine learning, statistics, and database systems (KDD, Knowledge Discovery in Databases). For example, to discover patterns in the purchasing behavior of consumers.
The term ‘data mining’ stems from the similarity between the search for statistical patterns and the digging (mining) for something valuable in a large mountain.
With data mining, we can help companies to find essential information. For example, this could be a decision model to predict customer behavior.
Where can you think of? Here follow two practical examples.