Data Mining

Or Business Intelligence

Is Data Mining and Business Intelligence the same?

Sort of.

data mining

the process of collecting, searching through, and analyzing a large amount of data in a database, as to discover patterns or relationships

business intelligence (or “BI”)

  1. the methods and technologies that gather, store, report, and analyze business data to help people make business decisions
  2. the data gathered by these methods

Officially, BI is a type of data mining, or data mining applied to business goals

Unofficially, use the terms interchangeably

A practical example

Profit by customer (or contribution margin by customer). Applying the costs of onboarding new customers, maintaining existing ones, the costs of servicing them, other related costs specific to your business (warranty service costs, freight, returns and replacements, etc.), we gain insight into which customers are making us successful, and which ones are draining our profits.


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