Meaning ● Data mining, within the purview of Small and Medium-sized Businesses (SMBs), signifies the process of extracting actionable intelligence from large datasets to inform strategic decisions related to growth and operational efficiencies. ● Specifically, SMBs leverage data mining to automate marketing efforts by identifying customer segments with high propensity to purchase, thereby optimizing resource allocation. ● Moreover, its implementation facilitates informed decisions concerning inventory management, reducing costs through predictive analysis of demand patterns. ● Through data mining, an SMB can discover previously unknown correlations between operational variables, enhancing process optimization.
