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Business Intelligence in the Market

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Research paper

Business Intelligence in the Market

By Bryan Bock

Dr. Traci O'Neill

Business Marketing

Montana Tech of The University of Montana

December, 13 2012

Abstract Businesses today are working more towards predicting the future, how employees will connect with customers, any way or trend the business can find to improve sales and profit. Business Intelligence is used in the market all around the world in many different areas. Businesses are benefitted from the different types of BI methods all the time. Two of the BI methods that are beneficial are called the Market Basket Analysis (MBA) and the Decision Tree Analysis. These two BI methods are used throughout businesses in areas such as marketing, financing, Real estate, and accounting. Both of these methods help business similarly, but in their own different ways. They are two different types of methods that both help businesses make the best decisions to benefit their company. There are many methods or theories that people come up with to help with a business but these are the few that will be examined in this paper.

The goal of the modeling technique market basket analysis is to find different relationships of activities that have been recorded with data through the performance of people. This method can be used on any situation where information can be recorded and identified (Pillai, 2011). The way to improve methods for discovering company patterns to increase business utility of an enterprise is by recognizing how the community reacts to certain sales or purchases (Pillai, 2011).
One of the first steps in using the Market basket analysis method is finding a subject in the business. The subject should be made of a group rather than single person or one individual item. Also, the subject usually gives off a…...

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