The twenty-first century is the age of information and knowledge. It is a century that is characterized by knowledge as the important resource that gains competitive advantage for companies. To acquire all these knowledge and information, organizations must rely on the data that they store. Data, the basic element, is gathered daily from different input sources. Information is extracted or learned from these sources of data, and this captured information is then transformed into knowledge that is eventually used to trigger actions or decisions. By and large, organizations do not have any problem of not having enough data because most organizations are rich with data. The problem however is that many organizations are poor in information and knowledge. This fact translates into one of the biggest challenges faced by organizations: how to transform raw data into information and eventually into knowledge, which if exploited correctly provides the capabilities to predict customers’ behaviour and business trends.