How does data mining help businesses make informed decisions? 🔊
Data mining helps businesses make informed decisions by analyzing large datasets to discover patterns and extract valuable insights. Techniques such as classification, clustering, and association rules enable companies to understand customer behavior, market trends, and operational efficiency. These insights guide strategic initiatives like targeted marketing campaigns, product development, and supply chain management. By leveraging data mining, businesses can identify opportunities, mitigate risks, and optimize performance, ultimately contributing to better decision-making, increased profitability, and enhanced competitive advantage in their respective markets.
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