Data mining is the process of sorting through large data sets to identify patterns and establish relationships to solve problems through data analysis. Data mining tools allow enterprises to predict future trends.
In simple words, data mining is defined as a process used to extract usable data from a larger set of any raw data. It implies analyzing data patterns in large batches of data using one or more software. Data mining has applications in multiple fields, like science and research. As an application of data mining, businesses can learn more about their customers and develop more effective strategies related to various business functions and in turn leverage resources in a more optimal and insightful manner. This helps businesses be closer to their objective and make better decisions. Data mining involves effective data collection and warehousing as well as computer processing. For segmenting the data and evaluating the probability of future events, data mining uses sophisticated mathematical algorithms. Data mining is also known as Knowledge Discovery in Data (KDD).
This analysis is used to retrieve important and relevant information about data, and metadata. This data mining method helps to classify data in different classes.
Clustering analysis is a data mining technique to identify data that are like each other. This process helps to understand the differences and similarities between the data.
Regression analysis is the data mining method of identifying and analyzing the relationship between variables. It is used to identify the likelihood of a specific variable, given the presence of other variables.
This data mining technique helps to find the association between two or more Items. It discovers a hidden pattern in the data set.
This type of data mining technique refers to observation of data items in the dataset which do not match an expected pattern or expected behavior. This technique can be used in a variety of domains, such as intrusion, detection, fraud or fault detection, etc. Outer detection is also called Outlier Analysis or Outlier mining.
This data mining technique helps to discover or identify similar patterns or trends in transaction data for certain period.
Prediction has used a combination of the other data mining techniques like trends, sequential patterns, clustering, classification, etc. It analyzes past events or instances in a right sequence for predicting a future event.