Data is being analyzed to produce every scrap of useful information possible. Examples of companies who have integrated data mining into their suite of information management tools:
Blockbuster Entertainment mines its transactional database to discover what sorts of movies appeal to certain groups. It then uses this information to recommend movies to customers. [4]
Wal-Mart maintains a massive database containing the transactional records of every store in the six countries in which it operates. It then allows suppliers access to this database to mine for customer buying patterns at the retail level. Wal-Mart also uses data mining to determine inventory control over time, as well as for future merchandising possibilities. A discussion on a descriptional trend that was discovered using data mining is described below. [4]
The National Basketball Association is using a data mining technique on a database of video images. These images can be used to create predictive models of player behaviour, allowing for the development of new strategies and plays. The software engine the NBA uses is able to find "rare" occurrences of positive circumstances, and then present them to coaches for their perusal. [4]
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The Mellon Bank of Pittsburgh uses data mining to create a neural network model for processing loan applications. The neutral net is perceived as accurate enough to process all applications. Once an application is received and approved by the model, little human effort is utilized to accept the application. [5]
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