Data mining combines methods from statistics and machine learning to extract usable data from large data sets. To be able to scale up, effective data collection and warehousing is required. Discovering relationships among data is important in a variety of fields e.g. identifying credit risks, understanding customer segments and fraud detection. Data mining automates this process by finding patterns and correlations using sophisticated mathematical algorithms.
Ingestion of any type of data from various data sources
Creation of decision-oriented information
Prediction based on likely outcomes