Data mining reveals patterns in data using predictive & mathematical techniques. These patterns play a critical role in decision making because they reveal areas for process improvement. Using data mining, organizations can increase the profitability of their interactions with customers. The patterns revealed using data mining help organizations make better decisions.
Factors Influencing success of Data Mining :
- The accuracy and completeness of the data being analyzed.
- Data mining software.
- The use of data for purposes other than for which the data were originally collected.
- To be successful, data mining still requires skilled technical and analytical specialists who can structure the analysis and interpret the output that is created.