What does "data mining" entail in the context of business analytics? 🔊
In the context of business analytics, "data mining" entails the process of discovering patterns, correlations, and insights from large datasets. This technique employs statistical methods, machine learning, and artificial intelligence to analyze complex data from various sources. By identifying trends, associations, or anomalies within the data, businesses can make more informed decisions, improve efficiency, and enhance customer satisfaction. Data mining can lead to actionable strategies, such as targeted marketing campaigns or operational optimizations, ensuring organizations can leverage their data assets to their fullest potential.
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