How Data mining can be useful in Business Decision making?
Data mining is a pretty new term that refers to the process of extracting data or
information from sources of interest and deriving predictive patterns out of this
information.
Data mining is...
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How Data mining can be useful in Business Decision making?
Data mining is a pretty new term that refers to the process of extracting data or
information from sources of interest and deriving predictive patterns out of this
information.
Data mining is widely used in various business processes and is not just
about looking for relevant information but can do wonders if it is transformed into
real action.
Once you define an objective for your business activity the next step is to
effectively exploit the data or information using different algorithms.
Many times the Data is stored in large, difficult to access databases and may contain
substantially high-quality information.
But there are some questions that needs to be
answered.
• How to extract relevant data from various resources?
• How can a business pin point patterns that are critical to its performance?
• How to present the large amount of data in effective manner?
• What is the next course of action with the available data pat
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