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  • Essay / Big Data, Data Mining and Predictive Analytics - 938

    Introduction2. Applications of Big Data, Data Mining and Predictive AnalysisFor the development of Big Data, Data Mining and Predictive Analytics applications, several methodologies and techniques oriented towards the control and post-analysis of information-data have been generated in different domains. These methodologies and techniques allow better use of information-data to solve a specific problem. Some areas in which Big Data has grown, both in the public and private sector, are health and science, economics, and business and management. Taking these into account, we can define and classify the following applications: Figure 1. Applications of Big Data, Data Mining and Predictive Analytics2.1 Marketing and Business ApplicationData Warehousing Tools, Data mining and customer relationship management (CRM) have improved businesses' ability to create and build relationships with customers. For sales managers, data mining can evaluate sales performance by product types, distribution channels and geographic regions. Combined with other variables, such as demographics or purchasing behavior, this data can also be used to predict which products are likely to perform well in certain markets (Hair, 2007). For retailers, big data comes from many sources: point-of-sale, radio frequency identification (RFID) devices, online clickstream models, and more. With the help of predictive analytics models, this data becomes useful for various decisions in inventory control, store layout, merchandise assortment, etc. (Hair, 2007).For advertisers, Data Mining can become a valuable tool with the new emerging media of the Internet, blogs, podcasts and search ads (as opposed to traditional media, such as television, radio or newspapers). The increase...... middle of article ......r and Fawcett, 2013).2.4 Analytical applications of service operationsBig data, predictive analysis and data mining have other important applications that do not have a direct impact on the management strategy in a company; they nevertheless represent an important tool in society. These include the successful use of Big Data in astronomy (e.g. the Sloan Digital Sky Survey of telescopic information), in politics (e.g. a political campaign focused on people most likely to support a candidate based on social media or web searches) (Murdoch and Detsky, 2013), and education, where data mining offers educational institutions additional approaches to improve student graduation rates , their success and their learning results, through prediction, cluster analysis, association and classification by information technology tools (Beikzadeh, Phon-Amnuaisuk and Delavari, 2008).