Data mining is the process of analyzing data from different perspectives and summarizing it into useful information. Data mining has gained popularity for many reasons. It allows organizations to discover patterns and establish relationships.
Data mining is especially useful for customer-centric organizations, such as retail, healthcare, finance, communication and marketing. Data mining helps organizations determine internal and external relationships.
Data mining enables individuals and organizations to easily get information and make quick and valid decisions. It also assists your ability to compare information with several factors so your decisions are more reliable. With the information that is available after the data mining, you can create new strategies. Doing so will let your organization effectively expand business boundaries and make better decisions.
Data mining helps organizations identify important facts, relationships, trends, patterns and occurrences that may have been overlooked and used to discover patterns and relationships in the data to help make informed decisions. Data mining is useful for organizations to identify sales trends, develop a strategic marketing approach and accurately predict customer loyalty.