M8D1: Data Mining Applications

18
18 unread replies.
18
18 replies.

Data mining is a collection of computer technologies that analyze
information to discover previously unknown and potentially useful
information, including relationships and patterns. By applying data
mining technologies you can predict future sell trends and customer
behaviors. You can identify patterns of financial fraud and terrorist
attacks.

Before you start the discussion, read the following reference:

• Joseph, M. V. (2013). Significance of Data Warehousing and Data Mining in Business Applications (Links to an external site.). International Journal of Soft Computing and Engineering (IJSCE), 3(1). ISSN: 2231-2307. Retrieved from http://citeseerx.ist.psu.edu/viewdoc/download?doi=…

Respond to the following:

• Explain why data mining has become so important in today’s business world.
• In the above article, the authors listed application areas of data
  mining technologies in business, which include government, finance,
  banking, and marketing. Please identify one application area and conduct
  research on the Internet to find out how data mining is being studied
  and applied in these areas. Please remember to put your own thoughts
  and opinions on these business applications.