Data Mining refers to a process by which patterns are extracted from data. Such patterns often provide insights into relationships that can be used to improve business decision making.What are some examples of data mining?
The first example of Data Mining and Business Intelligence comes from service providers in the mobile phone and utilities industries. Mobile phone and utilities companies use Data Mining and Business Intelligence to predict ‘churn’, the terms they use for when a customer leaves their company to get their phone/gas/broadband from another provider.What is the need for data mining?
Importance/ Need of data mining. Data hold has the power to provide the user with information if it is analyzed properly. Information can be considered as the power in today’s digital world where everything is getting automated which is possible only because of the presence of digital data which can be processed by machines.