Abstract

Over the past decade, many organizations have begun to routinely capture huge volumes of historical data describing their operations, products, and customers. The incredible amounts of data can be saved in electronic formats at reasonable costs with the development of latest data processing and storage technologies. The field of data mining addresses the question of how best to use this vast amount of historical data to discover general regularities and improve the process of making decisions. The concept of data mining is gaining acceptance by many companies as a means of seeking higher profits and lower costs. This research will review several important concepts of data mining and will survey many companies through questionnaires. After receiving survey results, the authors will analyze profits/costs effects by data mining while comparing these effects by SIC indexes.

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