The New Jersey Institute of Technology put together an infographic that highlights how data mining and decision support systems can lead to powerful marketing strategy. The benefits of data mining are immense and can serve to more precisely predict the outcomes of business decisions; effectively target audiences on a personal level; and uncover patterns, correlations, and consumer buying habits.
Traditional marketing research is being surpassed, and three out of four researchers believe "mining of existing knowledge" will be the main kind of market research with Google and Facebook at the forefront. However, that's no to say the fundamentals of marketing have changed...perhaps just the tools.
Check out the rest of the infographic for insight into the benefits of data mining and the best tools to leverage Big Data for market research.
