Data mining is the process of extracting patterns from data. Data mining is seen as an increasingly important tool by modern business to transform data into an informational advantage. Data mining is functionality that processes data through sophisticated algorithms to uncover meaningful patterns and correlations that may otherwise be hidden with standard analysis and reporting. Data mining is popular in the science and mathematical fields but also is utilized increasingly by marketers trying to distill useful consumer data from Web sites.
Data mining software is one of a number of analytical tools for analyzing data. Data mining software analyzes relationships and patterns in stored transaction data based on open-ended user queries. Some software tools for data mining are specifically designed and documented to fit into one of these specific frameworks. To run the analyses using the datamining software, a person having a good experience in data analysis is highly recommended, as the statistical analyses often require a difficult interpretation stage.
Data Mining is a highly effective tool in the catalog marketing industry. As the marketing director you have access to a lot of information about all of yourcustomers: their age, sex, credit history and long distance calling usage. Some successful application areas include: A pharmaceutical company can analyze its recent sales force activity and their results to improve targeting of high-value physicians and determine which marketing activities will have the greatest impact in the next few months. It can equally well be integrated into ongoing marketing research, CRM (Customer Relationship Management) projects, etc. By successfully applying predictive data mining, you not only will be able to target the right audience, thereby increasing return on invested marketing money.
Google has access to all sorts of information that marketers would love to get their hands on. Google’s ability to spot outbreaks of flu-like activity is one example. Google was able to spot outbreaks of flu-like illnesses before government agencies could, because government agencies rely on traditional reporting, waiting for hospitals to send in statistics, whereas Google relies on queries. If you’re still in the dark and cannot understand this explanation, then perhaps you need to sign on with Google for its free email, because for those of you who have ever used any of Google’s free services, it’s easy to understand what data mining is all about.
Data mining is mostly used by marketers and people who need to analyze large volumes of data and make sense of it for some purpose or the other. Data mining is finding increasing acceptance in science and business areas which need to analyze large amounts of data to discover trends which they could not otherwise find.
Seb Thomas works for www.backlinkswarehouse.com. Article Marketing and link building services is the focus. Contact Seb today for your two for one special on all packages at www.backlinkswarehouse.com