Data Mining and Knowledge Management Application to Enhance Business Operations: An Exploratory Study

Abstract

The modern business organizations are adopting technological advancement to achieve competitive edge and satisfy their consumer. The development in the field of information technology systems has changed the way of conducting business today. Business operations today rely more on the data they obtained and this data is continuously increasing in volume. The data stored in different locations is difficult to find and use without the effective implementation of data mining and Knowledge management techniques. Organizations that smartly identify, obtains and then converts data in useful formats for their decision making and operational improvements create additional value for their customers and enhance their operational capabilities. Marketers and customer relationship departments of firm uses data mining techniques to make relevant decisions, this paper emphasize on the identification of different data mining and knowledge management techniques that are applied to different business industries. The challenges and issues of execution of these techniques are also discussed and critically analyzed in this paper.