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What is Data Mining?
It becomes quite difficult to find out the hidden predictive information from vast and large databases. Data mining acts as a powerful tool to perform the task of extracting the hidden information. Nowadays data mining is widely used in most of the companies. It is with the help of data mining that prediction can be made regarding future behavior and trends, and therefore helps in making proactive decisions in business.
Why it is needed?
In business Data mining is mainly used for the following three technologies:
Data mining algorithms
Massive data collection
Powerful multiprocessor computers
Scope of Data Mining
The name data mining is given because with the help of it vital and valuable business information can be extracted from large database. New business opportunity can be generated with the help of the technology of data mining. The capabilities that are provided by Data Mining are as follows:
The automatic prediction of trends and behaviors.
The automatic discovery of previously unknown patterns.
Techniques of Data Mining:
Artificial Neural Networks
These relates to the predictive models which are non linear and the structure are like biological neural network.
Set of decisions represented with the help of tree shaped structures. The classification of a dataset is generated with the help of such decision trees.
These are the techniques more specifically optimization technique that are used for procedures like mutation , genetic combination based on evolution.
Nearest Neighbor Method
As the name suggests it refers to the technique of classifying each record present in a dataset ,where the similarity is found between the combination of classes of k records and the historical data. It is also termed as the k-nearest neighbor technique.
From data based on statistical significance , rule induction is the technique used for extraction of the important if-then rules.
Diversified Transportation Company
Credit card Company
We will help you out through the whole process of data mining.