some applications of the data mining techniques in business are used in order to gain insight on customers and to uncover patterns to improve business processes

Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter13: Regression And Forecasting Models
Section: Chapter Questions
Problem 40P: The Baker Company wants to develop a budget to predict how overhead costs vary with activity levels....
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Over the past few decades, technological advances have led to a dramatic increase in the amount of recorded data. The use of smartphones, RFID tags, electronic sensors, credit cards, and the internet has facilitated the collection of data from phone conversations, emails, business transactions, product and customer tracking, business transactions, and web browsing. Data mining is the process of applying analytical techniques to large quantities of data to find hidden structures, patterns, and relationships among variables.  Illustrate some applications of the data mining techniques in business are used in order to gain insight on customers and to uncover patterns to improve business processes

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ISBN:
9781337406659
Author:
WINSTON, Wayne L.
Publisher:
Cengage,