data mining

Companies like amazon use mining tools to present a

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Companies like Amazon “use mining tools to present a list of books purchased by customers
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Data Mining 3 whom had made the same or similar purchases. Amazon has been successful at cross selling because it knows what to suggest to its customers” (Efraim Turban, Linda Volonino, 2011). Web mining can help a business provide more and better products to its customers. Analysts are able to combine information from web mining and Dta mining to make these discoveries. Web mining can also be used in the surveillance of competitors. Businesses can research their competitors’ progress and practices to see if there is anything that can be done differently. Data mining is based upon the history of the company. Information such as sales, fraudulent credit card use, machinery failures or classifying customer demographics are all derived from within the company. Therefore algorithms are fairly reliable because the data it uses is coming straight from the company not an outside source. Algorithms may not be accurate when analysts of one company are trying to compare the data of another company. Choosing the best algorithm to use for a specific analytical task can be a challenge. While you can use different algorithms to perform the same business task, each algorithm produces a different result, and some algorithms can produce more than one type of result. (Data Mining Algorithms (Analysis Services - Data Mining), 2012). Data Mining Algorithms can “also impose limitations when it is costly or impossible to scan large databases multiple times or access records at random” (Bradley, Paul, Gehrke, Johannes,Ramakrishnan, Raghu Srikant, Ramakrishnan, 2002). When it is difficult to collect all the facts needed a clear prediction cannot be made and that can be a problem for the future of a business. In addition to the retail and sales industry the financial industry uses data mining as well.
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Companies like Amazon use mining tools to present a list of...

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