What is Data Mining?

The amount of data available today is enormous. There is much more than a large team of employees could handle. This of course would not be cost effective, even if it would work. Data mining is a cost effective way of extracting the hidden useful data within this extraordinarily large database. This data may be used to focus marketing campaigns on certain segments of the population that would be most likely to benefit from your product or service. This greatly increases your marketing efficiency. This information can also be used to determine a patient’s diagnosis. It is the perfect way to determine, if a product or service will be profitable, and how much will be used or purchased. This is the optimal way to determine, which customers should receive an offer for a mortgage, a pre-approved credit card, or offer for auto financing. The possibilities are almost endless.

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