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Data Mining - Benefits and Hazards

What are the benefits and hazards of data mining? Please give rationale for your answer.

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Marking/Retailing - Data mining can aid direct marketers by providing them with useful and accurate trends about their customers' purchasing behavior.

Banking/Crediting - Data mining can als assist financial institutions in areas such as credit reporting and loan information. For example, by examining previous customers with similar attributes, a bank can estimated the level of risk associated with each given loan.

Law Enforcement - Data ...