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Data Mining Research

Data mining is used in market research to uncover useful information from a large collection of data using computer software.  This software can sort through information and find patterns from raw data to be used in research studies. Advances in data storage and collection mean that large amounts of information can now be stored in one place, which has allowed for the advancement in data mining to find the key patterns from the stored data.
Data mining is often used to gain a greater insight into consumers’ preferences, such as what they buy online. Data mining software can be used to look at what customers add to their online cart, and then suggest other products that people with similar interests had purchased previously. This allows for a more personalised shopping experience for the user and improve the company’s marketing strategy.
The fact that data mining uses automated software to uncover data means it is very efficient at picking out data – saving time and resources. It also helps predict future trends to allow businesses to prepare for the future and create better marketing campaigns. Furthermore, it helps put reasoning behind businesses keeping large amounts of data as, without data mining, they wouldn’t have any use for it. However, concerns about data privacy have been expressed by customers because of how much information is being stored and how it can be looked at in detail.

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