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Today, Data Mining (DM) has become tactically important to organizations across industries. It not only helps in predicting outcomes and trends but also in removing delays and improving existing processes.
Data mining is a tool which is using for knowledge mining from the huge set of data. With the help of DM we can retrieve the valuable information from the huge amount of data. Also we can make the data usable for analytical purpose, for business use, etc.
Data mining is the process of extracting data from a bulk of data to make it useful to grow business. It is considering as the subset of data science. They are also using to develop machine learning models that powers search engine algorithms, AI and recommendation systems.
Knowledge extraction, pattern analysis etc. are some other names for this method.
DM joins several branches of computer science and analytics, depending on intelligent methods to solve patterns and insights in huge sets of information.
One of the important characteristics of this method of analysis is its automation. This allows machine learning and database tools to accelerate the analytical process and also find data that is more relevant to users.
The DM technique breaks down into five steps.
First, organizations collect information and load it into their data warehouses.
Second, they save and manage the data, either on in-house servers or the cloud.
Business analysts, management teams and IT professionals access the data and understand how they want to organize it.
Then, application software arranges the data in terms of the user’s results.
Finally, the end-user presents the data in a simple format, like a graph or table.
If you have an interest towards databases then this will be the perfect option for you to finish your project. Because you can do many stuff here with data.
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Data mining is widely using in Banking, Education, Healthcare, etc. to obtain a useful version of data from various resources.
Banking – Large amounts of data are being generated with computerised banking. DM helps financial institutions to find out probable defaulters to decide whether to issue loans, credit cards etc.
Education – DM helps teachers to examine student’s data to find out the low performers so that they can give extra attention to them.
Healthcare – Data mining helps to increase efficiencies by reducing costs in healthcare industries. Patient’s previous treatment data is using to predict which treatment plan works best. In healthcare, DM is also using to find out medical frauds and abuses by analysing the patters of medical claims.