Role of Data Mining in Business Intelligence and Quality Decision Making: A Quantitative Investigation

Abstract

Data mining is a critical business intelligence tool that enables organizations to discover and extract valuable insights from large datasets. Data mining, which employs advanced algorithms and statistical techniques, aids businesses in identifying patterns and relationships that would not be obvious through manual analysis. These learnings can be applied to improve decision-making, business processes, and overall profitability. One of the most significant benefits of data mining is its ability to improve the quality of decision-making. By providing a better understanding of their data, data mining enables decision-makers to make more informed and strategic decisions. This can lead to a variety of benefits, including increased efficiency, increased customer satisfaction, and improved financial performance. Data mining can also be used to spot trends and predict future outcomes. Historical data can be used by businesses to identify patterns and trends that can be used to predict future behaviour. This data can be used to create targeted marketing campaigns, improve pricing strategies, and boost customer retention. Overall, data mining is a valuable tool for businesses seeking a competitive advantage in today's fast-paced market. Businesses can make better decisions, improve processes, and increase their bottom line by providing valuable insights into their data.