Data mining is a method of exploring and extracting information from large databases to reveal hidden patterns, trends and correlations. It’s a major component of all successful customer relationship management (CRM) strategies. The results of data mining analysis can be employed to make marketing strategies more accurate and effective, such as identifying the profile of the most valuable customers or predicting the behaviour of website visitors. It can also be used for business demand forecasting as well as fraud detection and credit protection. Data mining can be applied across all industries, but is particularly useful in the financial services industry.
“This partnership with SAS will act as a catalyst to enhance industrial research and development projects, both academically and commercially, in this exciting area,” says Fong Yew Chan, director if business development at IHPC.
“With a current staff strength of over 170 research scientists and engineers at IHPC, we believe that the Enterprise Mining Centre will benefit local companies in transforming data into refined insights and useful information for their businesses.”
