Why data mining is important?

 

In data mining concept main purpose is to used for analysis of collected information. So here unknown interactions between data are researched in a variety of ways to ascertain critical relationships between subjects and aggregated information. That's why data mining is largely used in several applications such as understanding consumer research marketing, product analysis, demand and supply analysis, e-commerce, investment trend in stocks & real estates, telecommunications and so on.In global market data mining has great importance in highly competitive business environment. Because it is a good method to manage latest information and used for competition analysis, market research, economical trends, consume behavior, industry researches and so on. While considering all these things we can identify that data mining is really important.