Data Mining
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| data mining |
Data mining is defined as the exploration and analysis of
large quantities of data in order to discover valid, novel, potentially useful,
and ultimately understandable patterns in data.( Ramakrishnan and Gehrke.
Database Management Systems, 3rd Edition). Data
mining software is one of a number of analytical tools for analyzing data. It
allows users to analyze data from many different dimensions or angles,
categorize it, and summarize the relationships identified. Technically, data
mining is the process of finding correlations or patterns among dozens of
fields in large relational databases.
Data mining is primarily used
today by companies with a strong consumer focus - retail, financial,
communication, and marketing organizations. It enables these companies to
determine relationships among "internal" factors such as price,
product positioning, or staff skills, and "external" factors such as
economic indicators, competition, and customer demographics. And, it enables
them to determine the impact on sales, customer satisfaction, and corporate
profits. Finally, it enables them to "drill down" into summary
information to view detail transactional data.
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| my report |
The significance of data mining has
also given birth to an altogether new concept called ‘Business intelligence
data mining’. It means taking out such meaningful data from numerous online
podiums on the basis of which critical business decisions could be made. This
could easily include market and economic trends, geographical information,
industry research, competitor and competition analysis and economic trends. So,
various organizations are using data mining to its fullest potential to
outclass their competitors in the businesses.
In short, Data mining consists of
five major elements:Sql Server Business Intelligence
- Extract, transform, and load transaction data onto the data warehouse system.
- Store and manage the data in a multidimensional database system.
- Provide data access to business analysts and information technology professionals.
- Analyze the data by application software.
- Present the data in a useful format, such as a graph or table.
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