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Author: Admin | 2025-04-28
More Related ContentData Mining in Marketing1. DATA MINING INMARKETINGBy Shweta Metar 2. Data Mining – Introduction• Process of extracting hidden patterns from data.• Process of analyzing data from different perspectives and summarizing itinto useful information.• Process of finding correlations or patterns among dozens of fields inlarge relational databases. 3. Data Mining – Process 4. Data Mining – Barriers• User’s privacy at risk.• Misuse of Information.• Accuracy of data.• Cost at implementation stage 5. Data Mining – Marketing• Customer Decision Making.• Improve CRM and Market analysis.• Increase Return on Investment.• Fraud detection and customer retention.• Predict future trends. 6. Marketing – 4 P’s 7. Data Mining – TypesKnowledge Based Market Basket AnalysisSocial Media Based 8. Data Mining – Techniques• Cluster Analysis To Identify Single Target Groups:-Eg: Showing toys advertisement to children.• Regression Analysis To Make Marketing Forecasts:-Eg: Men will also be using Fairness Cream• Classification Analysis To Identify Spams:-Eg: Not every person wants to buy product some are WindowShoppers. 9. Data Mining – Techniques• Association Rule Learning To Discover Links Between Data:-Eg: 90% of customers who buy a product online then by another,and always the same one.• Intrusion Detection For Greater System Security:-Eg: People who try to hack the database to get the details of thecustomers.• Neural Networks To Automate Learning:-Eg: The computer managing your database, “learns” to identify acertain pattern containing elements with precise relationships with eachother. 10. Example• Amazon:-Amazon is using the data they havecollected to improve the customer-service.• Starbucks:-Starbucks uses data to determine thebest locations for their stores.
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