What makes data mining an important business tool? What types of information does data mining produce? In what type of circumstance would you advise a company to use data mining?

Explanation:

Data mining is a technique in data analysis that allows users determine faster and one of the strategic business intelligence techniques. Data mining enables users to analyze large amounts of data and to identify hidden links within data not known otherwise.  

For example, data mining might reveal that a consumer buying product X is ten times as likely to buy the product

Data mining finds information such as:

Whether hunting at new products and services or seeking new marketing strategies or new markets, I would suggest to a company that uses data mining. Data mining can be useful if unforeseen business issues whose sources are hard to identify are being studied.

credit history is used by lenders to determine whether you are a 'risky' person to give their money to.

having a short history provide very little data for the lenders. they wouldn't be able to determine your credit behavior from such a small samples. even if they are perfect.

having long credit history with few blemishes provide larger and more accurate data for the lenders to predict your credit behavior.