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What is Data Mining? Definition and Examples | Indiablogger.in

 What is Data Mining?

Data mining is a process of extracting and discovering patterns in large data sets involving methods at the intersection of machine learning, statistics, and database systems. that can help solve business problems through data analysis. Data mining techniques and tools enable enterprises to predict future trends and make more-informed business decisions.

What is Data Mining? Definition and Examples | Indiablogger.in

    If you deal with the internet, then you must have heard about Data Mining, Blockchain, etc. at some point or another. Many of you might even know about it.

    But this article can double your understanding. Let us understand what is Data Mining after all.

    To understand what is Data Mining, let us divide it into 2 parts. Data means information and mining means not to dig or to find.

    That is, digging any necessary data out of a lot of data/information, that is, searching for it is called data mining.

    Data mining is also called knowledge discovery. If it is explained technically, then data mining is a method i.e. process in which the necessary information is discovered from a large data group by dealing with many techniques such as artificial intelligence, computer graphics, statistics, etc.

    Data Mining becomes even easier and simpler when some tools are used in this process such as PowerBI, Tableau, Qlick Sense, etc. All these tools prove to be very helpful in knowing and understanding the data.

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    Examples of Data Mining

    Although many examples of Data Mining can be given, here we will try to explain to you with a simple example.

    You must be getting calls from a credit card company or from any insurance company often. But have you ever thought that they have your number, your interest, what things do you search online, and how does all this information go?

     This is actually the lotus of data mining, in which a little bit of artificial intelligence is also involved.

    Similarly, retail brands/companies such as Amazon, Flipkart, Myntra, etc., what you searched on the internet and what you want, they message or call you by doing all this unnecessarily.

    Objectives of Data Mining

    This is a very important work in which the entire future planning of any company depends. That is why it is very important to use it very carefully. In Data Mining, now let us know some of its objectives.

    Explanatory: As the name suggests, any event is narrated from bed

    Confirmatory: In this, all kinds of ideas and ideas are often confirmed.

    Analyzatry: According to the name, its work is also there. Mainly, in this, large or small datasets are analyzed well so that later on one theory can be reached.

    Data Mining Advantages

    • Among the many benefits that you get from Data Mining, below are some special benefits for you.
    • Due to data mining, companies are getting real, accurate, and more data.
    • Data Mining is becoming very helpful to all the companies, big and small, in making future decisions for their business.
    • Due to this, companies are able to understand their customers and their likes and wants in a better way and that is why they are moving forward according to their needs.
    • It is very easy to implement it in any new system.
    • Because its speed is very good, that's why any large dataset can be easily analyzed.

    Disadvantages of Data Mining

    • During Data Mining, a lot of data is incomplete.
    • The biggest problem is data privacy and security. There is a chance of data being misused

    Data Mining Requirements

    Data Mining is helpful in understanding the largest dataset very easily in a simple way.

    Big companies depend a lot on data mining and take further decisions accordingly.

    It is helpful in making future predictions.

    Is giving all kinds of accurate information to any business or any one person.

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    Types of Data Mining

    So far we have discussed what is data mining, data mining advantages and disadvantages, etc. Now we will know its types ie

    Types of Data Mining

    • Predictive Data Mining Analysis
    • Descriptive Data Mining Analysis
    • Prescriptive Data Mining Analysis

    Applications of Data Analysis

    In Marketing & Sales: 

    Through this, any company is getting the opportunity to know and understand its customers better. Understanding the buying behavior of the customer can be recommended.

    Pharma & Healthcare Sector:

     Before making any kind of medicine, thousands of things do not have to be kept in mind on it. Similarly, in the healthcare sector too, a lot of data has to be analyzed in the same way. This is where data mining comes in handy.

    Education Sector: 

    The progress of the country depends a lot on the education available in the country. But where and how much education industry should be, all this is known from Data Mining

    In many fraud cases, data mining helps a lot in exposing them all. So careful!

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