THE SECRETS OF DATA MINING FOR YOUR MARKETING STRATEGY
To enhance company data stored in huge databases is one of the best known aims of data mining. However, the potential of the techniques, methods and examples that fall within the definition of data mining go far beyond simple data enhancement. In this article we focus on marketing and what you can do to promote your company or business, including online, through data mining. In the list of 10 methods and practical examples, we include resources and links for more information so that everybody can learn more about this vast and evolving field. By exploiting the techniques and following the examples we show you, you will be able to boost and refine your marketing strategy and stand out from the competition. Let’s get started!
1) CLUSTER ANALYSIS TO IDENTIFY SINGLE TARGET GROUPS
Cluster analysis enables identifying a given user group according to common features within a database. These features can include age, geographic location, education level and so on. It is a data mining technique that is useful in marketing to segment the database and, for example, send a promotion to the right target for that product or service (young people, mothers, pensioners, etc.). The variable combinations are endless and make cluster analysis more or less selective according to the search requirements.
– Cluster Analysis by Jmp [ENG]
– La Cluster Analysis [PDF ITA]
– Cluster Analysis for Market Segmentation [SLIDE ENG]