The Impact of Data Analytics and Mining in Transforming the Decision-Making System
Authors:
Ms. Sunitha B.K, HOD, Jain (Deemed to be University)- Center for Management Studies, Bengaluru
Ms. Saritha S.R, Assistant Professor, Jain (Deemed to be University)- Center for Management Studies, Bengaluru
U. Abhishek, Student, Jain (Deemed to be University)- Center for Management Studies, Bengaluru
S. Vaibhav Dharani Reddy, Student, Jain (Deemed to be University)- Center for Management Studies, Bengaluru
Supreeth D Anand, Student, Jain (Deemed to be University)- Center for Management Studies, Bengaluru
Yashas K, Student, Jain (Deemed to be University)- Center for Management Studies, Bengaluru
Amogh A Jain, Student, Jain (Deemed to be University)- Center for Management Studies, Bengaluru
Abstract:
In an increasingly data-driven world, effective decision-making hinges on the ability to use the power of information and technology supporting it. This research paper explores the transformative role of data analytics and mining in shaping the once upon a time decision support systems through a profound understanding and analysis of the existing research. This paper highlights the significance of leveraging data analytics and mining techniques to extract valuable insights from vast datasets. By uncovering hidden patterns and trends within the data, businesses can make informed and strategic choices that drive success and outperform their competitors. The practical applications of data analytics and mining are vast, including domains such as customer relationship management, fraud detection, and market analysis. The paper discusses the various ways in which these techniques enable organizations to obtain a competitive edge in the market by unlocking valuable data-driven insights. Real-world case studies are used to illustrate the tangible benefits of this approach.
Overall, the research paper showcases the critical role of data analytics and mining in encouraging a data-driven decision-making culture across the business world. By equipping businesses with the analytical tools to unveil the true potential of their data, this approach paves the way for improved performance, sustained success and can guide organizations towards achieving their long-term objectives.
Keywords: Data Analytics, Data Mining, Decision Making, Data, Technology, Information.
