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Data Mining Applications and Strategies

  • ID: 28974
  • March 2003
  • 8 pages
  • Faulkner
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Data mining applies advanced algorithms to discover trends and patterns in data that remain hidden to conventional data analysis. Employed most frequently to profile and predict customer buying behavior, data mining can help prevent customer attrition, promote cross-selling to existing customers, and even identify new customers. It is also being used in a wide variety of new application areas from fraud detection to anti-terrorism.

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