Data mining is the interpretation process of determining meaningful information from huge databases.
Data mining is also recognized as a data discovery or knowledge discovery.
Data mining process
1. Extract the data patterns, transform them and load the same in the data warehouse.
2. The data storing in a structured manner, in the multidimensional database.
3. Provide this database access to the business analyst by means of application software.
4. Most importantly, the presentation of data in the easiest way like in the graph or flowchart form rather than in the text.
Important steps in data mining
1. Data Source
2. Data gathering
4.Deploying data models
Advantages of data mining
1. The capacity to reveal data patterns and relationships, which can be employed to make predictions that influence businesses in positive ways.
2. In the sales sector, data mining can be used to filter customer data and their related search history to make the future prediction of product use.
3. The financial industry uses data mining as the tool to find fraud and to create risk models.
4. Manufacturing sector uses data mining to enhance the production safety and to investigate the quality standards.