D A T A

While speaking of data mining, I had some ideas of the importance of it that were not discussed in class. One additional benefit of data mining is to better predict consumer behavior - this could include the items that appear to be more popular to consumers at a given time period, and determine other products that may be purchased as complementary goods in addition to the original product. Another benefit is a tradeoff. Although data mining is expensive, a company could save time and money on utilizing less employees to determine and analyze these trends, and instead replace them with data programs. Lastly, a company could order items that are better sellers, and less of what does not sell as much. This would up their turnover and most probably boost sales.