WRITTEN BY : LAURA BERRILL
Today , data fuels everything around us and influences most aspects of our daily life , including significant business decisions . Data mining in this respect can help enterprises enormously . But what happens when human data comes into the mix ?
Simply put , data mining is defined as a process used to extract usable data from a larger set of raw data . Data patterns are then analysed in large batches , using one or more software systems . Data mining has applications in multiple fields and industries now , not just in science and research , although these remain important areas , for example , in terms of health .
For business and enterprise , companies and organisations can learn more about their customers , develop more effective strategies related to business functions as a result and then leverage their resources in a more optimal and insightful manner . This means overall data mining helps businesses be closer to their unique objectives and make better decisions . For example , in retail , point of sale records of customer purchases could be managed to send targeted promotions based on individuals ’ purchase history . The retailer could also develop products and promotions appealing to specific customer segments , based on mining data from comments or warranty cards . It is also a tool to drive better customer loyalty . technologymagazine . com 117