The Discussion about the Relationship between Data Mining and Precision Marketing

The author describes a simple but comprehensive definition for data mining and precision marketing, discusses the main difference about the two concepts, analyzes the relationship between data mining and precision marketing from process and application. Through this paper, we can see that data mining denotes to a technological tool for decision support while precision marketing represents a management idea, and the former turns the idea into practice. Additionally, as a tool for implementing precision marketing, data mining reflects more interpretation to market and customer, and the new pattern of precision marketing has made marketing emphases from selling product to satisfying special customer needs and wants.