Data Mining

[Name of Professor]

Abstract

All over the world the concept and technique of data mining is appreciated by different businesses. There are many concepts which are associated with data mining. These concepts include understanding of basic data mining, web data mining and the concerns related to the customers. Concerns which are related to customer mostly revolve around the issue of privacy and security of information. This research paper discusses in detail about the core concepts related to data mining, benefits of data mining and consumer perspectives along with mentioning the industries which are using this technique.

TABLE OF CONTENT

Introduction4

Thesis Statement4

Discussion4

Overview of Data Mining4

Customers' Behavior - A Predictive Analysis5

Associations Discovery5

Concept of Web Mining5

Customer Clustering6

Reliability of Data Mining Algorithms6

Privacy Concerns and Data Mining6

Predictive Analysis7

Conclusion8

References9

Data Mining

Introduction

Data mining is one of the most talked about concepts in recent times. There are different web sites which are providing best of services to the customers in order to satisfy all their needs and concerns. Every technology has its benefits as well as disadvantages. The use of technology makes a program or technology good or bad. Data mining is a great way to predict future sales and revenues. With the help of data mining companies also cut down the costs as well which in return let them enjoy maximization of profits. There are different concepts which are associated with the data mining. These concepts include web mining, behavior of customers, clustering of customers and markets. More over there are also certain concerns which are raised by consumers in order to get safety from sharing of information. This research paper discusses about all these mentioned points and issues in detail.

Thesis Statement

“Analysis of the benefits related to the data mining and concerns raised by customers”.

Discussion

Overview of Data Mining

Data is very essential for every company. It helps a company to genuinely forecast the future trends. Data mining is in easy words can be described as obtaining valuable yet hidden analytical information from a data bank so as to analyze and forecast the future sales and market trends. With the help of data mining and data mining software programs it makes it easier for companies to find correlations between different fields, including internal and external factors. Data mining is an important part technique for extraction and discovery of knowledge related to market (Pei, Kamber and Han, 2011, p. 6)

Customers' Behavior - A Predictive Analysis

Data mining helps to understand the behavior of different customers easily. Not only that it also helps to gain information related to the customers including their buying behavior, preferences and budgets with respect to analyzing any product or service. With the help of customer relationship management model data mining software an organization can easily provide a detailed summary of clients.

Associations Discovery

There are so many benefits of data mining. There are different ways with the help of which client's feedback is also recorded so that the same or better level of service delivery can be monitored and guaranteed to the potential customers. It is a flexible system ...