(ii) Data Mining is used for finding the hidden facts by approaching the market, which is beneficial for the business but has not yet reached. (i) The derived pattern in Data Mining is helpful in better understanding of customer behavior, which leads to better & productive future decision. Also, Data mining serves to discover new patterns of behavior among consumers.ĭata Mining is used for predictive and descriptive analysis in business: It makes use of sophisticated mathematical algorithms for segmenting the data and evaluating the probability of future events.ĭata Mining is also alternatively referred to as data discovery and knowledge discovery.ĭata mining definition Uses of Data Miningĭata mining is used for examining raw data, including sales numbers, prices, and customers, to develop better marketing strategies, improve the performance or decrease the costs of running the business. Mining of Data involves effective data collection and warehousing as well as computer processing. The algorithms of Data Mining, facilitating business decision making and other information requirements to ultimately reduce costs and increase revenue. It may be defined as the process of analyzing hidden patterns of data into meaningful information, which is collected and stored in database warehouses, for efficient analysis. The Relationship Between Machine Learning and Data Mining. Difference between Data Analytics and Data Mining.Now you know What is Overfitting in Data Mining? What is then Underfitting?. What are the different Clustering techniques?.
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