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Essay / Research Paper Abstract
A 7 page paper discussing the competitive benefits of data mining as a business technology of the future. It is reality now, but still not widespread. The fact of its relative rarity serves to highlight data mining's success in those businesses who do actively use it, such as Wal-Mart. Bibliography lists 5 sources.
7 pages (~225 words per page)
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Unformatted sample text from the term paper:
fuzzy logic years ago was that IT systems could "create" their own data from existing data residing within them. Opponents envisioned smart computers that potentially could become malevolent in
their operation, turning on their human creators. The vision was much like that of "HAL," the computer with a mind of its own in "2001: A Space Odyssey."
At the other extreme were purists holding that a computer was merely a machine and nothing more, that artificial intelligence was a topic best left alone.
In ensuing years, business has become more competitive than at any other time and organizations in all industries have found it necessary to operate as efficiently as
possible. Much of the focus of marketing lies in knowing the target customer, and data mining can help enhance that knowledge.
What It Is The future of data mining is astounding, and even more so when considering that despite the advances that have been
made in recent years, its art and practice are still in their infancy. In its simplest form, data mining is the electronic process of searching for patterns in events
that have already occurred (Nash, 1998). The purpose can be to determine which websites generate the most traffic and where that traffic originates, or it can be to track
characteristics of repeat customers to an online merchants website. Alternately, it can be used to assess customer service efforts to ensure that customer service and customer loyalty are operating
at the highest levels possible. Increasingly popular is the use of data mining to discover association rules in terms of which diverse products