Guide to Data Warehousing and Business Intelligence
Data Mining Tools are analytical engines that use data in a Data Warehouse to discover underlying correlations. Data Mining Tools are used by analysts to gain business intelligence by identifying and observing trends, problems and anomalies.
Because the business environment is so dynamic, it is often difficult for businesses to quickly identify emerging patterns or trends. Data Mining Tools help businesses identify problems and opportunities promptly and then make quick and appropriate decisions with the new business intelligence.
For example, with the help of a Data Mining tool, one large US retailer discovered that people who purchase diapers often purchase beer. Upon analyzing the data, it was discovered that young husbands are frequently asked by their spouses to pick up diapers after work, and those husbands were also picking up other household necessities, at the same time!
Needless to say, the retailer quickly capitalized on this business intelligence by strategically locating the beer right next to the diapers! By doing so, the retailer sold more diapers and more beer!