What are some real-world examples of data mining?
Data mining is used in various fields. For instance, in retail, companies analyze customer purchase data to optimize inventory.
Can you give me more examples in healthcare?
Sure! In healthcare, data mining helps in predicting disease outbreaks and improving patient care by analyzing treatment outcomes.
What about data mining in finance?
In finance, data mining is used for credit scoring, fraud detection, and risk management by analyzing transaction patterns.
How does data mining impact marketing strategies?
Data mining allows marketers to segment customers, personalize campaigns, and predict customer behavior, enhancing overall strategy.
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