Mining Business Data to Raise Profit
Time & Location
About The Event
The more data mining retrieved from customers, the more value is gained to deliver better results for your customers. This, in turn, will help generate more revenue. Data mining has been around for several decades. Its purpose is for collecting and analyzing data for various perspectives to summarize into useful information.
With data mining, you will know how to make products to sell themselves by looking at the psychographics and the demographics of customers and examining the purchasing patterns of them to build profiles.
Come learn some tips on how to mine your business data to Raise your business profits. It is no as hard as it seems to get started with mastering your data to optimize processes, mitigate risks and unlock new opportunities.
Despite these barriers, businesses that are able to effectively capitalize on the benefits of broadly distributed data mining have key practices in common. Successful companies:
- Know the core business needs, both tactical and strategic, that data mining can address
- Identify and evaluate the data sources that data mining tools will use for accuracy and relevance
- Identify which of the available data mining solutions addresses the full scope of the organization’s requirements, from budget to technical ability of end-users;
Different ways that data mining positively impacts their businesses.
Here are the top 10:
1. Improved decision-making (56%)
2. Improved security risk posture (47%)
3. Improved planning and forecasting (44%)
4. Competitive advantage (41%)
5. Cost reduction (41%)
6. Customer acquisition (40%)
7. New revenue streams (40%)
8. New customer acquisition/retention (34%)
9. Improved customer relationships (31%)
10. Development of new products (31%)