Strategic Decision Making A Data Mining Approach

Abstract

The amount of patterns extracted now a days from knowledge discover and Data Mining is rapidly growing, thus imposing new challenges regarding their management. Organized retailers are expanding their horizons from local to global marketing and using different tools and techniques of Data Mining, from management point of view this study becomes very important as Data Mining is a technique which is making radical changes by restructuring, redesigning, and reengineering. Data Mining is a tool which is widely used by each and every department/process/units of the retail outlets the research will initiate the contribution of Data Mining technique in primary and supportive activities like marketing and sales, procurement of resources, technological enhancement inbound and out bound logistics and infrastructural development. At one side it reduces cost of the company by minimizing expenses incurred in managing primary and cooperative activities, other side it maximize profit by giving in depth information about customer purchase decision, purchase frequency and integrated marketing and sales efforts. The research will also highlight importance of Data Mining Technique for organized retailers who are leaders in the market and these who are the new entrants. So that they can cope-up with changes in technological environment. newline