Data Mining and Processing

You can develop business and marketing strategies by analyzing customer patterns and behaviors. In a U.S. study, it was found that 93% of customers use the internet for e-commerce-related activities.[1] In addition to general data mining using the internet, social media was also useful for gathering location-based data about customers and identifying patterns of consumer feedback. Other data mining sources include weblogs, forums, wikis, and social media.

Comprehending the needs of your customers can help to establish future direction and define your product status. Additionally, online data mining from social media networks is advantageous for gathering data quicker and easier than surveys and questionnaires. Benefits of data mining include the capacity to better comprehend your customers by knowing and assessing the networks in which they gather. Moreover, data mining is useful for analyzing customer behavior, which can assist in establishing a future course for identifying and implementing your business’s marketing strategies.

[1] Flanagin, A. J., Metzger, M. J., Pure, R., Markov, A., & Hartsell, E. (2014). Mitigating risk in ecommerce transactions: Perceptions of information credibility and the role of user-generated ratings in product quality and purchase intention. Electronic Commerce Research, 14, 1-23. doi:10.1007/s10660-014-9139-2