What is Data Mining in Marketing? PDF Book

Learn Data Mining definition in marketing with explanation to study “What is Data Mining”. Study data mining explanation with marketing terms to review marketing course for online MBA programs.

Data Mining Definition

  • Extracting of useful information about individuals, trends, and segments from the mass of data.

    Principles of Marketing by Philip T. Kotler, Gary Armstrong



Data Mining Explanation

It is a process in which companies use customer database for the useful information. This technique helps companies to plan effective marketing strategies for the potential customers, to expand sales targets and reduce expenses. Data miming is an integral part of company's process; it contains record of customer interest towards products. It has also been used to gain marketing edge.

Keep Learning Marketing Explanations

What is Cost-plus Pricing (markup pricing)?

Cost plus pricing is one of the pricing strategy usually describes by the companies in order to determine product price ...

What is Consumer Market?

It is a market filled with goods purchased by household consumers. They usually buy products for individual or group consumption. ...

What is Global Firm?

Promoting successfully is important to the accomplishment of any business. In any case, endeavoring it all alone can be tedious, ...

What is Buying Center?

Buyer center is a group of individuals in an organization that involve them in purchase decision making process. It helps ...

What is SWOT Analysis?

SWOT investigation (or SWOT framework) is a vital arranging method used to support an individual or association recognize qualities, shortcomings, ...

What is New Product?

Organizations center around planning new items and offering these items to clients. The organization's objective with making new items includes ...