The Need for Data Mining Over the last decade, advances in processing power and speed have enabled us to move beyond manual, tedious, and time-consuming data mining practices to quick,

The Need for Data Mining Over the last decade, advances in processing power and speed have enabled us to move beyond manual, tedious, and time-consuming data mining practices to quick, easy, and automated collection for data analysis. The more complex the data sets, the more potential there is to uncover relevant insights. Retailers, banks, manufacturers, telecommunications providers, and insurers are using data mining to discover relationships among everything from price optimization, promotions, and demographics to how the economy, risk, competition, and social media are affecting their business models, revenues, operations, and customer relationships.

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