Successful Application of Data Mining

Application of data mining is successful in wide-ranging business industries. Early adopters of data mining technology are intended to apply the system in information-intensive industries that include direct mail marketing, financial services, better management of customer relationship, leveraging data warehouse etc.

However, in order to make application of data mining successful, two critical factors are essentially taken into account. Programming assignments experts suggest the following:

• A huge and well-integrated data warehouse
• Well-defined understanding of the business process in which the data mining is applied.

The successful application of data mining using RapidMiner includes the following area which is also important in data mining assignments:

• Diversified companies having huge domain of direct sales are seen to apply the process of data mining in order to highlight constructive prospects for its business. Data mining is used to identify attributes for high-end business prospects, analyzing the customer experience, in order to build unique recognition and segmentation in the industry.

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• Companies that deal with consumer package goods essentially employ data mining technology in order to improve its sales to retailers. In order to comprehend the reasons for brand priority and store switch, it is important to mine data from consumer panels, competitor activity, and sales pattern. On analyzing the data, the manufacturer can reach their target market by implementing appropriate promotional strategies.

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• Credit card companies leverage the data warehouse of customer transaction with the focus to identify customers who are likely to be interested in a new credit product. Application of data mining technology identifies customer’s affinity for a particular product.

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• Analysis of the recent sales activities and evaluation of results helps the business organizations to determine marketing activities that would have a great impact in near future. Data mining include business performance and activities of competitors, information of local chain suppliers, dynamic analysis of data warehouse acts as the key attributes in decision-making process.

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