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Essay's paper info
| Topic: |
Technology
|
| Number of pages / Number of words: |
6 / 1670 |
Essay's paper body
The highest users of data mining include banking, financial, and telecommunications industries (Two Crows).
A survey taken by Two Crows Corporation turned up these applications of data mining:
- Ad revenue forecasting
- Churn (turnover) management
- Claims processing
- Credit risk analysis
- Cross-marketing
- Customer profiling
- Customer retention
- Electronic commerce
- Exception reports
- Food-service menu analysis
- Fraud detection
- Government policy setting
- Hiring profiles
- Market basket analysis
- Medical management
- Member enrollment
- New product development
- Pharmaceutical research
- Process control
- Quality control
- Shelf management/store management
- Student recruiting and retention
- Targeted marketing
- Warranty analysis
Data mining will have a different effect on different industries in the business world...
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In the telecommunications industry, for example, in order to retain or build market share and expand or develop new products and services, service providers will have to make the necessary adaptations and changes that the industry and pace setting technology requires.
"The most successful telecommunications companies will, of course, be the ones who can develop and market products and services that customers will buy," says Julian Kulkarni, SAS institute Europe's Product Marketing Coordinator for telecommunications...
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General points of the essay
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