Data Mining Technology and its Application in Electronic Commerce

As data collection and data storage rates are growing at an exponential pace in the business world in this information age, data mining is becoming a key component of electronic commerce. Trends shows definitely that future decision making system in e-commerce would weigh on even quicker and more reliable technology used for data analysis. Confronted with huge mountains of data in business transactions, we need to make better managerial choices. These needs are extraction of the "essence" of information stored, automatic classification and clustering as well as partition of data and the discovery of business intelligence and knowledge through data mining. This paper starts with a short survey of data mining and subsequently we probe into the application of data mining in e-commerce.