KDD: Applying in marketing practice using point of sale information

Abstract

The dramatic increase in computing power that has emerged over the past two to three decades has revolutionized decision making in most business domains. In particular, point of sale data has been recorded by retailers now since the time of scanner technology. However, the great volumes of data overwhelmed conventional computation routines until more recently. Although the basic principles of data mining can be found in automatic interaction detection routines dating back to the 1960s, the computational limitations of those days prevented a thorough analysis of all the possible combinations of variables. © 2010 Springer-Verlag Berlin Heidelberg.