What is data mining used for?

Question

Can anyone tell me what is data mining used for?

Answer 1

Data mining is used for extracting useful information from large databases the can assist in making efficient business decisions. Data mining is used in marketing for doing market segmentation, understanding customer behavior, and target with personalized loyalty campaigns. Data Mining is also used in the retail industry for finding the most valuable customers and increasing sales at the checkout queue. It is used in banking for fraud detection and risk analysis. It is also used in healthcare for making more accurate diagnostics.

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Also, watch this video on Data Mining: