 DATA MINING AND THE PROCESS OF TAKING DECISIONS IN EBUSINESSAna Maria Mihaela Tudorache
Romanian Economic Business Review, 2008, vol. 3, issue 4, 111-116 Abstract: Data mining software allows users to analyze large databases to solve business decision problems. Data mining is, in some ways, an extension of statistics, with a few artificial intelligence and machine learning twists thrown in. Like statistics, data mining is not a business solution, it is just a technology. For example, consider a catalog retailer who needs to decide who should receive information about a new product. The information operated on by the data mining process is contained in a historical database of previous interactions with customers and the features associated with the customers, such as age, zip code, their responses. The data mining software would use this historical information to build a model of customer behavior that could be used to predict which customers would be likely to respond to the new product. By using this information a marketing manager can select only the customers who are most likely to respond. The operational business software can then feed the results of the decision to the appropriate touch point systems (call centers, direct mail, web servers, email systems, etc.) so that the right customers receive the right offers. Keywords: data mining; business decisions; data analysis; cluster analysis; decision strategy (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:rau:journl:v:3:y:2008:i:4:p:111-116 Access Statistics for this article More articles in Romanian Economic Business Review from Romanian-American University Contact information at EDIRC. |
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