In this clip, Association Labratory President and CEO Dean West discusses data mining and how it can be applied to associations. We read about data mining in chapter 11. Data mining is the process of selecting, exploring, and modeling larg amounts of data to discover previously unknown relationships that can support decision making. Data mining is an extremely important part of a decision making process.
You can collect information on anything about your customers. For instance, demographics where you look at customers age or location population size. With data mining, once you gather all of your information, you then have to figure out what you are going to do with this information. I found this interesting because it gave knowledge to ways companies go about some of their distribution and selling of products. It shows how they target their customers.
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