Data Mining affects Decision Support System and Business in General (Research Paper Sample)

Data Mining affects Decision Support System and Business in General
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Introduction
Data mining is not an entirely new concept to the human existence. Since time immemorial, people have been doing data mining just on a different level and using different technology. Traditional tools of data acquisition have slowly been phased out, and there is now new techniques and technology for that purpose (Hastie & Tisbshirani, 2018). Technology has been ensuring that there is a faster analysis of data that is collected. In addition, companies can now store large volumes of data for future analysis and reference. Software that makes it easier for data mining has been developed and companies can now easily access the resource, which is invaluable in getting a review of information. Besides, one can now easily access data due to the advancement in technology. Internet is a rich source of data, which can help decide on the business. Collecting the right information is imperative since the life of a business may depend on the data collected. Therefore, there should be measures, which stipulate how data should be collected, and what can be admissible.
Data mining, as a business tool, has been very influential in the day-to-day running of many businesses. The large and multinational corporations have not only felt impacts of the program but also by the small and medium-sized enterprises (Hastie & Tisbshirani, 2018). Data mining has been crucial in helping companies get new ideas on how best to manage their resources. Proper management of resources at one's disposal ensures that there is maximum utilization. Consequently, the business minimizes their operations costs and maximizes on profits. In addition, the tool has been instrumental in helping companies make the right decision when it comes to the general business environment. All sectors of a business need the management to make the right decisions for them to run smoothly. Finally, data mining has been significant in aiding the advancement of technology. Impacts that data mining can bring on business have been extensively covered in the research and are the vital points of interest for the report.