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[FYI] Data Mining
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- Subject: [FYI] Data Mining
- From: Horns@t-online.de (Axel H. Horns)
- Date: Thu, 8 Apr 1999 20:52:27 +0100
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CORDIS RTD-NEWS/c European Communities, 1999
Record Control Number : 12673
Date : 1999-04-08
Category : Result
General Information :
By transforming customer behavioural and descriptive data into
valuable, accessible and practical marketing information, MIMIC
(Mining the Internet for Marketing IntelligenCe) can enable an online
retailer to capture, retain and satisfy his customers.
The MIMIC project was funded by the European Commission's Esprit
programme to develop a toolkit that would enable the mining of data
generated by Internet retailing. "Data mining" is the non-trivial
extraction of previously unknown information from data.
The result is the development of a generic, extensible, modular
software tool that transforms customer behavioural and descriptive
data into valuable, accessible and practical marketing information.
The marketing intelligence information generated from the MIMIC
data-mining toolkit is used to provide a competitive edge to on-line
retailers, allowing them to capture, retain and satisfy customers.
With the benefit of direct marketing, which has the ability to measure
directly the response to a particular marketing effort, a retailer can
monitor customers' behaviour patterns and detect and sell to
"switchers" - those who show no allegiance to a particular Internet
European SMEs (small and medium-sized enterprises) operate many of the
fastest growing on-line retail sites on the Internet. These SMEs do
not have the resources to analyze manually the statistics generated by
their sites. MIMIC will provide them with useful marketing
intelligence and assist them in developing strategies for using the
Internet's marketing potential more effectively.
Data Source Provider : European Commission, Directorate General III
Document Reference : Based on a project result from the ESPRIT
Programme Acronym : FRAMEWORK 4C; ESPRIT 4
Subject Index Codes : Telecommunications; Evaluation