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how does data mining work (1)

In order to stay ahead of their competition, many companies<br>are mining public data from the internet and their own records<br>in order to gain greater knowledge about what their customers<br>want. We've identified 6 areas in which Data Mining is being<br>used to influence customer spending patterns: giving you what<br>you want, when you want<br>

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how does data mining work (1)

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  1. HOW DOES DATA MINING WORK ? In order to stay ahead of their competition, many companies are mining public data from the internet and their own records in order to gain greater knowledge about what their customers want. We've identified 6 areas in which Data Mining is being used to influence customer spending patterns: giving you what you want, when you want HOW DOES DATA MINING WORK? Extract, transform, and load transaction data onto the data warehouse system. Store and manage the data in a multidimensional database system. Provide data access to business analysts and information technology professionals. Analyze the data by application software. Present the data in a useful format, such as a graph or table T TV & FILM EMERGENCY SERVICE Netflix use Data Mining to work out what their members are looking for from their next TV show or film when producing their original content. Data Mining was the reason behind Netflix decision to produce the Emmy award winning drama 'House of Cards Using a combination of Data Mining and Predictive Analytics, many US emergency services are now starting to be able to predict where they are likely to be needed before an emergency has occurred SUPERMARKETS ONLINE RERAIL Many supermarkets, such as UK brand Sainsbury's, regularly monitor the prices of their competitors, alerting customers if their prices are cheaper, or giving a voucher for the difference if their prices are more expensive Online retail giant Amazon is renowned for its use of Data Mining to predict what customers might buy next, using their prior order history and other metrics including age, gender, nationality and what is popular in their country PHONE/INTERNET EDUCATION Churning (customers changing from one provider to another) is a constant problem for internet/phone providers. Users are given a probability score of churning, and are targeted with offers and incentives to stay appropriately With league tables taking an increasingly important role in where students attend university, top institutions are mining student data to maintain student satisfaction and increase student retention rates www.skillslash.com

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