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Chapter IX: Data Mining and Business Intelligence: Tools, Technologies, and Applications
Jeffrey Hsu, Fairleigh Dickinson University, USA
ABSTRACT
Most businesses generate, are surrounded by, and are even overwhelmed by data — much of it never used to its full potential for gaining insights into one’s own business, customers, competition, and overall business environment. By using a technique known as data mining, it is possible to extract critical and useful patterns, associations, relationships, and, ultimately, useful knowledge from the raw data available to businesses. This chapter explores data mining and its benefits and capabilities as a key tool for obtaining vital business intelligence information. The chapter includes an overview of data mining, followed by its evolution, methods, technologies, applications, and future.
