Data Mining: An Effective Technique To Study Consumer Buying Behavior

In the industrial scenario the degree of success of the any Organization and the Manager’s job is measured by the ratio of Outputs to Inputs. Thus, this ratio becomes the indication of Organization’s Productivity. Hence, all managerial/administrative activities revolve around decision making. The manager is first and foremost a decision maker. As Managers have considered ‘Decision Making’ a pure art, a talent required for long period of the time through experience. A variety of individual styles could be used in analyzing a problem and finally solving successfully managerial problems. These managerial styles are often based on Creativity, Judgment, Intuition and experience rather than on systematic quantitative methods based on a scientific way. But in today’s situation business and its dynamics are rapidly changing and have become more complex than ever before. These changes in business world has wider impact on the managerial decision making process. Due to this situation, today decision making is more complicated than it was in the past. It is more difficult to make decisions for several reasons. Harbridge House (a Boston Firm) has conducted a survey, and ranked Clear-cut decisions needed as the most important of 10 management practices. As the trends are changing, it is very difficult to rely upon trial and error approach to management, in case of decision is unstructured and semi-structured decision making situations. Managers must learn sophisticated, new tools and techniques. Using these technological tools such as Data Mining, its mostly hot- cake in today’s managerial decision process.

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