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Data Mining | Customer Behavior Report

   

Added on  2020-03-07

10 Pages2216 Words45 Views
Running head: DATA MININGDATA MININGName of StudentName of UniversityAuthor’s note
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1DATA MININGTASK 1Usage of data mining in the business Importance of data mining Data mining is simply a collection of the huge data from which certain pattern can bederived which help in the study of the customer behavior towards the company. Therefore thedata mining is important for the business purpose as it help to gain the insight what are thecustomer preferences.Usage of data mining in business Data mining has huge application in the different business sectors some of them listedare:BankingIn the banking sector huge amount of data is recorded everyday in terms of the accountdetails, shopping bills data, customer’s name, address and various other forms of data. In order tomaintain such a huge pool of data and decode them to derive some information which can helpthem to customers shopping pattern data mining application is used.Education In the education sector the data mining application is used to predict the results of thestudent by studying their learning behavior through the exams data. These data are analyzed bythe coaching institute.
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2DATA MININGHealthcare business With the help of the data recorded in the hospitals, data mining is used to predict the bestmedicine practices for the particular disease. Data mining is also used to predict the diseaseoutbreaks.For the detection of the fraud and lies The purpose of the data mining is to derive the meaningful pattern from the data. It canbe used to detect fraud and lies; through the data mining if the programmed meaningful data isnot valid it will term it as invalid thus detecting it as a fraud.Recent article/news item relating to data mining business Cambridge Analytica: Trump's data mining advisers to meet Australia's Liberal MPs.The following article discusses about the data mining company Cambridge Analyticalwhich is one of the key backroom operatives of the US president Donald Trump’s Campaign forthe white house will meet him 6th of April 2017 with the representatives of the Liberal party,government staff and parliamentarians, including the veterans (Murphy, 2017). CambridgeAnalytica is famous for its usage of the controversial “psychographic” methods to identify whichparticular slogan is best to persuade the voter. This particular company is going to set itsorganization in the Australia.The following article discusses the application of the data mining how an Americancompany Cambridge Analytica has the used the psychographic methods to study the variousslogans which is the best to attract the maximum voters. Now they are going to the same inAustralia for which they are establishing their company in Australia.
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