Data mining is a powerful new technology with great potential to help companies focus on the most important information in the data they have collected about the behavior of their customers and potential customers. It discovers information within the data that queries and reports can’t effectively reveal.
The amount of raw data stored in corporate databases is exploding. From trillions of point-of-sale transactions and credit card purchases to pixel-by-pixel images of galaxies, databases are now measured in gigabytes and terabytes. Raw data by itself, however, does not provide much information. In today’s fiercely competitive business environment, companies need to rapidly turn these terabytes of raw data into significant insights into their customers and markets to guide their marketing, investment.… Read the rest