Data Mining-The Essence of Strategic Management

In the emerging field of data mining as the process of analyzing data from different perspectives and summarizing it into useful information - information that can be used to increase revenue, cuts costs, or both. Technically, data mining is the process of finding correlations or patterns among dozens of fields in large relational databases. As well the field of strategic management defined as an art and science of formulating, implementing and evaluating cross-functional decisions that will enable an organization to develop policies and plans, and allocate resources to implement the policies and plans to achieve the organization's objectives. Strategic management, therefore, combines the activities of the various functional areas of a business to achieve organizational objectives.

Provided by: International forum of researchers Students and Academician Topic: Data Management Date Added: Aug 2011 Format: PDF

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