DATA MINING A NEW TOOL FOR THE GLOBAL MARKET MANAGERS

Objectives: The aim of this paper is to present the importance of using data-mining and multidimensional data analysis in developing the best strategies for the 21st Century consumers. The research's objectives are to identify the manager's opinion regarding the importance of data-mining techniques and the usage level of this management tool. Prior work: The paper presents the concepts of data-mining, database, multidimensional data analysis systems, the evolution of data-mining. The authors present the importance and the implications of using these management tools on the day to day activity of the company. The paper points out the advantages and the disadvantages of these new systems for the company. We also underline the usage of data-mining, not just as a management tool, but also as a marketing tool, especially if the companies want to develop a long lasting relation with the consumer in this ever changing global market. Methodology The authors used a quantitative research based on a questionnaire by which the hypotheses were tested. The questionnaire was pre-tested with a qualitative research (focus-group) in order to check the validity of the context. The survey was representatively applied on managers from the 7th Centre Region, Romania. Results Following the results of the analysis, it has been determined that the organizations use data-mining techniques and multidimensional data analysis in a small percentage. The study has revealed that only the medium-sized and large enterprises use data-mining, although all types of companies' have implemented database technologies. Implications This research points out to the managers, the importance of using the data-mining technology and its implications on the company's management system. Starting from the bibliographical research and the study's results we are drawing the attention on the importance of using data-mining and multidimensional analysis systems in business. Originality value Data-mining is a relatively new field of study and with this paper we hope to underline the practical approach of this tool for company and managers alike. In this context, the managers took part in a workshop in order to become aware of the importance of using new technologies in business.