Data mining is the procedure of analyzing data from different perception and summarizing it into useful information. The information may be to increase revenue, cuts costs, or both. Data mining is also known as data or knowledge discovery. The data mining software allows users to analyze data from many different dimensions or angles, categorize it, and summarize the relationships identified. • Understanding Customer needs • gathering information
Data mining is mainly used by today in the companies which primarily focus on customer for example the companies like financial, communication and marketing organizations. It enables these companies to determine relationships among “internal” factors and “external” factors.
Use of Data Mining Services
All businesses depends on data some way or the other. While some have data as their underlying procedures, others base their business proceedings on it.Data mining services are of greatest importance in applications like
• Product analysis
• Demand and supply analysis
• E-commerce trends
• Telecommunications etc.
Steps of Data Mining
• appraisal of the collected data
• Internet research to acquire more details of the collected content
• Extracting more information from online resources
• Merging the data obtained from the internet with the existent ones
• Processing the entire accumulated data and extracting useful information out of it
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