Most people do not seem to understand what data mining is all about. In fact, some view data mining as data science considering they both deal with data. However, this is not really the case since the way they use data is totally different. If this is not enough, the knowledge needed to carry out operations in these fields is also dissimilar. Read on and discover some of the things you need to know about data mining.
What is Data Mining?
Before going any further, you ought to know what data mining entails. After all, there is no way you can get the most from something you know nothing about. To cut the long story short, data mining is all about the extraction of usable data from a given set of raw data. Through this action, you are set to extract patterns while at the same time identifying relationships.
One thing you ought to keep in mind is that the process of data mining is a complex one as it entails intensive data warehousing together with powerful computational technologies. Some of the key features of data mining include clustering the visual data, focusing on greater databases, and prediction of patterns based on data trends.
Data Mining Techniques
There are two main types of data mining techniques i.e. predictive and descriptive. Predictive data analysis aims to forecast outcomes based on a set of circumstances. The most common predictive data mining techniques you can make use of include regression and classification.
Descriptive data mining techniques, on the other hand, rely on historical data to understand trends thus evaluating changes over time. Two of the most common descriptive data mining techniques are association rule and clustering.
These are just but some of the things you need to know about data mining. Be sure to make use of the right data mining techniques and tools if you’re to make well-informed business decisions. It is then that you will take your venture to a whole new level without going through a lot.