Data mining with its role in marketing, sales support and customer identification data analysis

Abstract

In the current times, large amounts of data are collected in databases in various fields for exapmple the retail market, banking, and medical care. However, for users, complete information is not necessarily helpful. Along these lines, separate helpful data from a lot of information. This valuable information extraction measure is called information mining or information disclosure and information measure (KDD). The entire course of finding and deciphering designs from information incorporates many advances, like choice, pre-preparing, change, information extraction and translation. Information mining supports venture promoting. Also nowadays, it is no longer possible for a company to succeed without relying on data-driven statistics to understand the needs of customers in this rapidly evolving world. Henceforth, there has become an urgent need to analyze data in order to develop products based on customer needs and desires. Companies can no longer be satisfied with just advertising campaigns to attract or retain customers. Data analysis also helps to reshape relationships and interactions with customers, and to market products more effectively, which leads to stimulating and increasing sales. This article aimed not only at identifying the role of data analysis and its use in the field of marketing and sales, but also at revealing the extent of the impact of data analysis and exploration on marketing and sales. It also showed that the forces of competition that pervade the business world are the ones that exert pressure over the market operating companies to work efficiently and effectively to maintain and increase their market share, and then achieve profitability and therefore the benefit of shareholders. To achieve the study objectives, the researcher used the descriptive method and a critical review of the theoretical literature and previous studies related to the topic. The study found that data analysis technology plays an essential role for every element of customer relationship management. Through data analysis applications, the project can transform the vast number of records in its clients' database into an integrated picture of its clients. The study also recommended companies that deal with huge amounts of data to use data mining techniques because of their analytical capabilities that help the company convert its customers’ data into useful information to be used in making relationship management decisions with them.