Data mining is defined by Google as “the practice of examining large pre-existing databases in order to generate new information”. It is an important process to obtain knowledge about customer behavior towards business offerings. With the help of data warehouses; a large store of data accumulated from a wide range of sources within a company and used to guide management decisions (Google), information is extracted from a variety of systems, converted into a standard format and uploaded into the data warehouse. This process is known as extract, transform, and load (ETL). When the info is obtained, merged, and converted, experts can start working with the data. Nowadays, businesses use real-time data ETL, making the warehousing of data run smoothly and without interruptions. Reports can be adjusted and limited without taking too much time to figure out how to set up and use them. It is so simple it can be taken down to the ordinary user level. With data mining, businesses can make more accurate decisions and gain more profit out of it, and it can draw results to improve customer loyalty.
Ismail, N. (2018, June 15). The importance of data mining in today’s business environment. Retrieved from https://www.information-age.com/importance-data-mining-123469819/
Marker, A. (2017, June 28). Why is data mining important? Retrieved from https://www.quora.com/Why-is-data-mining-important