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Searching for Gold-Data Mining - Essay Example

Summary

From the paper "Searching for Gold-Data Mining" it is clear that the understanding of the operations is often complex and firms need to have a common data warehouse to store data. Companies such as Facebook, Yahoo, and Google among others adopt the use of data mining to know the number of users…

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Subject: Marketing
Type: Essay
Level: Masters
Pages: 1 (250 words)
Downloads: 2
Author: wilber34

Extract of sample "Searching for Gold-Data Mining"

Most clients who are interested in different adverts online will depend on the information that is provided by these companies to float their adverts. The information provided gives them an opportunity to understand the regions and durations when the adverts should be floated.

There are a.lso cellular providers that have now gotten into data mining. The signals amongst the best stations and the cellular users can be used to market products that are directed to specific phone users. The calling records are projected to be one of the assets to various marketers. However, it will depend on the possibility of the customers browsing the web and accessing some sites to purchase products online.

Analysis of the market is necessary given that the company finds an opportunity to understand what the customers are likely to consume and at what quantities and durations. There are four main users of data mining to marketers currently, which include; acquisition of the customers, analysis of the basket market, analyzing customer abandonment and finally enhancing customer retention and loyalty.

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