In part 1 of this post we brought you 5 important benefits of data mining for your business, including intrusion detection, anomaly detection and much more.
In part 2 of this post we bring you 5 more benefits of data mining, so if you haven’t already introduced data mining to your business, we hope this post convinces you of its many incredible benefits!
1. Association rule learning
This involves using all product sale activities (particularly when large volumes are concerned) in order to spot links and relations between data. These discoveries enable businesses to create pinpointed marketing proposals, successful formulas and unique promotions.
2. Decision trees
In business, decision-making is a complicated process, but decision trees are ideal in that they help businesses to optimise project risk management. With the right computer tools, decision trees are extremely valuable when it comes to project risk management. Of course, the extent of the analysis depends on the technology available: the more advanced the software, the better the tree will indicate the best path to follow.
3. Neural networks
Neural networks are used to complement clustering and decision trees. They can be used for marketing operations, allowing the computer to manage your database and identify certain patterns containing elements with precise relationships with one another. The results can show marketers how to recognise and store patterns, all of which will be useful when it comes to precisely targeting your audience.
4. Induction rule
For predictive data-based analysis
The induction rule allows you to process sophisticated predictive analyses inside your database. The system analyses thousands of records of order numbers, saving you time and keeping you constantly informed, which is a fantastic way to make predictions about future trends and remain ahead of the competition.
5. Data warehousing
Last but not least, we have data warehousing, which is an essential data mining technique used for big data processing. There’s no avoiding the powers of customer profiling, particularly regarding big data processing. With the right software, you will be able to simplify your database, extract the most interesting data about your customers, simplify the creation of detailed reports and much, much more. when you need to migrate programs and systems, being able to count on data warehousing software is essential, not just for marketing but for the evolution and improvement of your business itself.
Feeling overwhelmed by Data Mining?
Then contact 8 Ways Media today, your specialists when it comes to marketing in relation to AI, digital machine learning systems and Data Mining.