Traditional research done by marketing departments will be changed forever with the advent of data mining. Data mining is the broad term for four different processes. The first, data management, collects the information that a company has available from their sales, records, and customer reports. Model management attempts to create conclusions from existing business strategies to see whether or not they are successful. A knowledge engine looks to create new paradigms to interact with trends. Finally, user interface allows for interaction in the data itself. Each part of the system can drive another part. The New Jersey Institute of Technology has released an infographic that shows how data mining and decision support systems can help develop powerful marketing strategies. Predictive analytics and data mining is going to change marketing departments for the better and marketers should be aware of the massive possibilities of Big Data.
NJIT New Jersey Institute of Technology Online MBA
How Data Mining & Decision Support Systems Can Create A Powerful Marketing Strategy
