Data Mining

Data mining is an automated analytical method that lets companies extract usable information from massive sets of raw data. Data mining combines several branches of computer science and analytics, relying on intelligent methods to uncover patterns and insights in large sets of information.

One of the defining characteristics of this method of analysis is its automation, which involves machine learning and database tools to expedite the analytical process and find information that is more relevant to users.

What is data in data mining?

Data mining is the process of analyzing hidden patterns of data according to different perspectives for categorization into useful information, which is collected and assembled in common areas, such as data warehouses, for efficient analysis, data mining algorithms, facilitating business decision making.

What is data mining process?

Data mining process is the discovery through large data sets of patterns, relationships and insights that guide enterprises measuring and managing where they are and predicting where they will be in the future.

Where is data mining used?

Data Mining is primarily used today by companies with a strong consumer focus — retail, financial, communication, and marketing organizations, to “drill down” into their transactional data and determine pricing, customer preferences, and product positioning, impact on sales, customer satisfaction, and corporate profits.

What is the procedure of data mining?

Despite its name, data mining isn’t always about extracting pure data from a mountain of information, but rather identifying important patterns and trends that emerge from the set. In this respect, data mining is similar to certain aspects of data exploration. See the full article for more details.

Why is data mining needed?

Data mining helps analysts to recognize significant facts, relationships, trends, patterns and anomalies which might go unnoticed otherwise. In business, data mining is useful for discovering patterns and relationships in data to help make better decisions.