Geographic, demographic, and psychographic behaviors are
consumer data types that are researched through various data mining sources
through the eyes of marketers and data analysts. Data mining, is occasionally
named as “data” or “knowledge discovery;” is the process where data analysts
analyze data from various perspectives and the ability to further compile and
outline the data to useful information. This information can be used for numerous
objectives within corporations or elsewhere, for example it can be used to
raise revenue by fluctuating prices, cut costs, or both.
Data mining is used by a great number of professionals in diverse fields. As mentioned before, marketers use data mining material to analyze trends in consumer buying habits. In addition, it helps marketers sufficiently identify their target markets. Recently, data mining has taken a great toll on many business decisions. CEOs of several companies use historical business information to be prudent in making crucial decisions. Furthermore,the use of data mining has begun to be very essential within Scientists and Engineers. To be specific in bioinformatics, genetics, and pharmaceutical companies.
Every time you as a consumer, swipe your Harris Teeter
rewards card, Bi Lo Bonus Card, or any in-house grocery store rewards card when
purchasing an item to receive the current sales, data is being downloaded.
Every time you become a member of a website whether it’s a social media website
or signing up to receive notifications on deals/sales in the Charlotte
metropolitan area (e.g. Twitter, Facebook, Groupon, Living Social), your
information is stored and compiled in data files in hopes of determining your
likes and dislikes as a consumer. Organizations of all kinds are constantly
downloading data on databases through various ways. Normally this is how mass amounts of data are
compiled for data analysts and marketers to conform the data into useful
information.
A specific example of data mining is when a consumer buys a
laptop online, for example. Various ads will tailor to that consumer.
Particularly on Amazon, if one buys a Mac Notebook, advertisements for Mac
Notebook accessories will begin to appear. Even if the consumer goes to other
websites, specifically on Facebook, advertisements will tailor to what the
consumer purchased or the consumer’s website history. These are very effective
ways to advertise to consumers, it enables the marketers to up sale and always
allow the data that the consumer is constantly feeding to determine their
wants, needs, likes, or dislikes.
Citations:
"Data Mining: What Is Data Mining?" Data Mining: What Is Data Mining? UCLA, n.d. Web. 04 Sept. 2013.
Hall, Shane. "Examples Of Data Mining Vs. Traditional Marketing Research." Small Business. Chron, n.d. Web. 04 Sept. 2013.
