Applications of Data Mining
Data mining technologies can be applied to a large variety of
decision-making con-texts in business. In particular, areas of significant
payoffs are expected to include the following:
Marketing. Applications include analysis of
consumer behavior based on buying
patterns; determination of marketing strategies including advertising, store
location, and targeted mailing; segmentation of customers, stores, or products;
and design of catalogs, store layouts, and advertising campaigns.
Finance. Applications include analysis of
creditworthiness of clients, segmentation of account receivables, performance
analysis of finance investments like stocks, bonds, and mutual funds;
evaluation of financing options; and fraud detection.
Manufacturing. Applications involve optimization
of resources like machines,
manpower, and materials; and optimal design of manufacturing processes,
shop-floor layouts, and product design, such as for automobiles based on
customer requirements.
Health Care. Applications include discovery of
patterns in radiological images,
analysis of microarray (gene-chip) experimental data to cluster genes and to
relate to symptoms or diseases, analysis of side effects of drugs and
effectiveness of certain treatments, optimization of processes within a
hospi-tal, and the relationship of patient wellness data with doctor
qualifications.
Related Topics
Privacy Policy, Terms and Conditions, DMCA Policy and Compliant
Copyright © 2018-2024 BrainKart.com; All Rights Reserved. Developed by Therithal info, Chennai.