Transforming E-Commerce through Data Mining

Abstract

Data mining has drastically altered how businesses are being operated, especially in the online domain. This paper attempts to review the massive growth of data mining applications to improve the profitability of ecommerce ventures. As consumers increasingly tend to make their purchases online and with many companies investing heavily on improving their web presence, it is only natural that the whole process of collecting and mining web data has become instrumental in determining a company's bottom line. What started off as a simple analysis of user behavior and online transactional data has now transformed into a massive, multidisciplinary knowledge discovery process involving huge data sets, algorithms, statistical techniques and analytics to glean new information. The article focuses on some data mining applications unique to ecommerce ventures and how they are being utilized in the current scenario.