Promoting Business Activities Using Utility Mining Techniques

Abstract

Inventory control can be defined as the process of inspecting stocks in a shop. Today even small and mid-sized businesses are using computerized inventory management systems for their business. Data mining discovers the knowledge and patterns which are potentially useful and previously unknown. Utility mining is one of the recent emerging fields in data mining. It incorporates usefulness of the knowledge or pattern retrieved. Such usefulness of the knowledge retrieved is termed as utility. In retail industry, utility mining can be used to retrieve highly profitable product in a market. Identifying such profitable products helps in better decision in inventory management. This chapter discusses how utility mining concepts can be implemented in inventory control.