Data Mining-Emerging Tool for Market Analysis

Trinity Journal of Management, IT & Media (TJMITM)
Year: 2010 (Jan-Dec), Volume: (1), Issue. (1)
First page: (15) Last page: (18)
Online ISSN: A/F
Print ISSN: 2320-6470
doi: 

Data Mining-Emerging Tool for Market Analysis
Mr. Gaurav Ahuja

1Assistant Professor and Controller of Examination, Delhi School of Professional Studies and Research, Delhi  (Affiliated to GGS Jndrapastha University) 
Corresponding author email id:

Received:
12 -04-2010

Accepted:
13-06-2010

Online Published:
23-07-2010

How to cite the Article

This image has an empty alt attribute; its file name is images.png
View on Google Scholar

ABSTRACT

This paper studies data mining as a  new and emerging tool for Market  Analysis. Thi:, reveals that Data  Mining which is the process of  extracting various kinds of business  infonnation from the data warehouse  helps in various functional areas of  market analysis i.e. Market based  analysis, customer profiling, web marketing ere. to gain the competitive  advantage for the organization. Jr  shows that Data Mining tools perform  market analysis by clearing business  data, enhancing customer knowledge,  enhanced marketing strategies and  increasing profits.  This paper reveals how to gain  compe//// ve edge and enhance  business profitability and efficie11cy Business organizations worldwide  are taking help of different Data  Mining tools. Data Mining fills the  growing gap between large storage  systems and powerful retrieval  systems and ability to analyze the  information obtained. It helps  contribute to research by providing  association techniques, techniques for  on-line discovery, ensemble learning  and distributed data sets. Large  number of marketing analysis  techniques are related to sales  forecasting which can be performed  by the data mining tools.  It shows if tools are used by  marketing managers effectively then  it provides an edge to their business.

KEYWORDS

analysis, customer profiling, web marketing