Data Mining Process Businesses that have a strong focus on their customers employ extensively the data mining services. This process is commonly used in retail, communication, marketing and even financial organizations. The data mining process enables companies to determine relationships and patterns concerning factors such as product positioning and price. It also plays an important role in the external aspects such as economic indicators, competition, and customer demographics.
These way businesses are able to improve their corporate profits and sales. Retailers have been using data mining process in determining point-of-sale records that include customer purchases and in this way they are able to send a huge number of promotional newsletters and offers. They are also able to customize a number of marketing strategies regarding on the history of the individual customers.
The data mining process enables retailers to acquire important information that is based on customers from whom they are able to create products and services for given particular audience segments. It is important to note that data mining survives can be greatly be employed by the large organizations and also the SME organizations. For instance, the video rental companies have been using data mining process to harvest its rental history database and n this way they are able to recommend the right rentals to people. Another example of the service industry that has been sung the same idea is the credit card companies that are able to give suggestions of products to the various subscribers which are based on their monthly spending and expenditure habits. Working in Data Mining Services The process of data mining can be considered as an amalgamation of analytical and IT systems. The data mining professionals are able to use data experts in identifying patterns and relationships which are contained in the transaction data that is based on open-ended user queries.