Discover customers' consumption habits in sales data, and find out customers' preferred product mix through transaction records. Others, including finding out the characteristics of lost customers and the timing of launching new products, are common examples in retail industry. After the introduction of data mining technology, the focus concept and database marketing method emphasized by direct marketing make the development of direct marketing even more powerful. For example, using data mining to analyze the consumer behavior and transaction records of customer groups, combined with basic data, according to the brand value level of customers, so as to achieve the purpose of differentiated marketing; The demand for data mining in manufacturing industry is mostly used for quality control, and the most important factors affecting product quality are found in the manufacturing process to improve the efficiency of the operation process.
Recently, telephone companies, credit card companies, insurance companies and stock traders are all interested in fraud detection, and the losses caused by fraud in these industries are very considerable every year. Data mining can find similar characteristics from some customer data with bad credit, predict possible fraudulent transactions, and thus reduce losses. The financial industry can use data mining to analyze market trends and predict the operation of a single company and the trend of stock prices. Another unique use of data mining is in the medical industry, which is used to predict the efficiency of surgery, medicine, diagnosis or process control.
From Baidu Encyclopedia.