Data Mining

What is Data Mining?

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.

Key Features of Data Mining:

Ingestion of any type of data from various data sources

Creation of decision-oriented information

Prediction based on likely outcomes

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