Data mining is an analytical process that compiles actionable data about the purchase habits of a firm's current and potential customers.

Question

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Data mining involves collecting and analyzing data from various sources to extract useful insights about customer behavior, preferences, and trends, which can inform marketing and sales strategies. It aims to identify patterns, correlations, and anomalies in data sets to uncover market opportunities or risks, improve customer satisfaction, and enhance business performance. Therefore, data mining is a valuable tool for businesses seeking to understand and predict customer behavior, optimize pricing and promotions, and improve customer service and retention.

Data Mining Is an Analytical Process That Compiles Actionable Data