What does "data mining" do in business intelligence? 🔊
In business intelligence, data mining involves extracting useful insights from large datasets to inform decision-making. This process uses algorithms and statistical techniques to identify patterns, correlations, and trends that may not be readily apparent. By analyzing historical and real-time data, businesses can predict future behaviors, optimize operations, and enhance customer targeting. Data mining plays a crucial role in developing business strategies and improving competitiveness in the marketplace. It empowers organizations to make data-driven decisions that ultimately increase profitability and operational efficiency.
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