Data Mining: Competitive tool in Retail Industries

Abstract

The data mining process used to be a highly technical process requiring mathematicians to build the analysis for companies. Today’s data mining technology offers retailers the tools they need to make sense of their customer data & apply it to business. Data mining is the process of extracting previously unknown information, typically in the form of patterns and associations, from large databases. Today’s organizations are realizing the numerous advantages that come with data mining. It is a valuable tool-by identifying potentially useful information from the large amounts of data collected, an organizations can gain a clear advantage over its competitors. help companies in better understanding of the vast volume of data collected by the CRM systems. In the past, many organizations have recognized the vital importance of the information they have on their customers.