Warning: Use of undefined constant referer - assumed 'referer' (this will throw an Error in a future version of PHP) in /usr/home/essaywo/public_html/essays on line 102

Warning: Use of undefined constant host - assumed 'host' (this will throw an Error in a future version of PHP) in /usr/home/essaywo/public_html/essays on line 105

Warning: Cannot modify header information - headers already sent by (output started at /usr/home/essaywo/public_html/essays:102) in /usr/home/essaywo/public_html/essays on line 106

Warning: Cannot modify header information - headers already sent by (output started at /usr/home/essaywo/public_html/essays:102) in /usr/home/essaywo/public_html/essays on line 109
Data Mining - College Paper

Data Mining

In today’s business world, information about the customer is a necessity for a businesses trying to maximize its profits. A new, and important, tool in gaining this knowledge is . is a set of automated procedures used to find previously unknown patterns and relationships in data. These patterns and relationships, once extracted, can be used to make valid predictions about the behavior of the customer.
is generally used for four main tasks: (1) to improve the process of making new customers and retaining customers; (2) to reduce fraud; (3) to identify internal wastefulness and deal with that wastefulness in operations, and (4) to chart unexplored areas of the internet ...

Want to read the rest of this paper?
Join Essayworld today to view this entire essay
and over 50,000 other term papers

to pre-process the data” (SAS Institute).
There are several different types of models and algorithms used to “mine” the data. These include, but are not limited to, neural networks, decision trees, rule induction, boosting, and genetic algorithms.
is largely, if not entirely used for business purposes. The highest users of include banking, financial, and telecommunications industries (Two Crows). will have a different effect on different industries in the business world.
The key to succeeding in this rapidly changing industry is to understand the customer, or the market that the customer represents. Through , companies can know what their customers have done in the past and what they will do in the future. With this information, the companies will be in ideal positions to make business decisions based on the information they have gained from the ...

Get instant access to over 50,000 essays.
Write better papers. Get better grades.

Already a member? Login

CITE THIS PAGE:

APA
MLA
Chicago
Turabian

Data Mining. (2008, December 9). Retrieved December 23, 2024, from http://www.essayworld.com/essays/Data-Mining/94377

"Data Mining." Essayworld.com. Essayworld.com, 9 Dec. 2008. Web. 23 Dec. 2024. <http://www.essayworld.com/essays/Data-Mining/94377>

"Data Mining." Essayworld.com. December 9, 2008. Accessed December 23, 2024. http://www.essayworld.com/essays/Data-Mining/94377.

JOIN NOW

Join today and get instant access to this and 50,000+ other essays

PAPER DETAILS

Added: 12/9/2008 08:37:59 PM
Category: American History
Type: Free Paper
Words: 320
Pages: 2

Save |

Report

SHARE THIS PAPER

SAVED ESSAYS

Save and find your favorite essays easier