Groups are engaged in data mining to varying degrees, from experimentation by individual analysts to the deployment of completed projects. We also found a wealth of potential business opportunities that could open up through data mining technology. For example, customers urgently require tools to help them keep pace with accelerating growth in the size and complexity of business data. At the same time, customers demand ever more timely, sophisticated, and widely integrated data analyses. These vendors have often aggressively exploited new technology to capture market advantage.
Data mining is such a technology.
The company has a wealth of data unrivaled in its breadth and depth, and the understanding of the relevant markets that is necessary to bring this technology to customers successfully. These markets use large databases and need the power of data mining to achieve a better understanding of their data. Both processes require either sifting through an immense amount of material, or intelligently probing it to find exactly where the value resides. Data mining automates the process of finding predictive information in large databases. A typical example of a predictive problem is targeted marketing.