Data Mining: Applications & Examples

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  • 0:00 Data Mining Definition
  • 0:41 Data Mining Applications
  • 1:41 Data Mining Examples
  • 2:50 Lesson Summary
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Lesson Transcript
Instructor: Kaitlin Oglesby

Kaitlin has a BA in political science and extensive experience working in the business world as Director of Marketing and Business Development at a financial advice firm.

Data mining has a number of applications that can help companies make the most out of the information that they already have. This lesson demonstrates that as well as provides examples.

Data Mining Definition

More and more, companies are collecting massive amounts of information on just about everything, from their own business and manufacturing processes to the behaviors of their potential and actual clients. Data mining allows companies to dig into all that information and reach new and exciting conclusions that can revolutionize the way that they do business. From HR to marketing, there are a number of applications for data mining in companies of many different sizes. In this lesson, we'll take a look at some of the applications of data mining as well as different examples of its use.

Data Mining Applications

There are a tremendous number of applications for data mining. Most obvious are those used for marketing purposes. After all, companies tend to be very interested in their clients and therefore use their resources to gain enormous amounts of data on them. This data can be analyzed to look for patterns, clusters, or other data mining indicators that there could be something statistically significant present. If something is found, that information can be presented to the marketing team.

Marketing is not the only use of data mining. Manufacturing processes can be improved by looking at data about downtime and shortages in raw material inventory. Compensation practices can be improved by looking at the performance and morale of employees after receiving different levels of raises. In fact, the whole hiring process can be reexamined, with potential hires having their social media accounts examined to see if they fit in well with the paradigm of employees' social media accounts who are deemed high performers.

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