The kind of growth the Internet marketing industry is witnessing currently, it was never anticipated even half a decade ego. Amazing avenues have opened up where possibilities became almost endless. Pertaining to these changes & advancements, Internet marketers need to access statistical data in order to understand the market better.
And for this "Data Mining" comes as a boon. According to Wikipedia, Data Mining "is the computational process of discovering patterns in large data sets involving methods at the intersection of artificial intelligence, machine learning, statistics, and database systems."
This process actually help a webmaster to get access to business intelligence data from a large mining database. This data is actually formatted by adding some association rules with mining database to establish a relation between various variables and market analysis.
In Data Mining, there is a popular method called "Basket Analysis", where a number of transactions are put in a virtual basket to determine the mutual relationship existing between them. One of the major applications of this basket analysis web data mining is to make significant predictions based on the business intelligence data mined and the associations which are found in the extracted data.
On an outset, for Internet Marketing, Data Mining is helpful to attain :
Increased number of page views per session.
Increased number of average profit per check.
Increased number of referred customers.
Increased number of visitors, returning visitors as well as retention rate.
Increased conversion rate.
Increased brand awareness.
The tool works around the core practices like collection, integration, analysis, and presentation of business intelligence data; which aid in taking accurate business decisions. Providers of Internet marketing services are taking this tool very seriously and working accordingly to achieve better results.