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What does data mining mean and how is it done?

Summary: Data Mining definition: Data Mining is all about explaining the past and predicting the future via Data analysis. Data mining helps to extract information from huge sets of data. ... Data mining process includes business understanding, Data Understanding, Data Preparation, Modelling, Evolution, Deployment. More items...

What is the difference between data mining and statistics?

Data Mining is about using Statistics as well as other programming methods to find patterns hidden in the data so that you can explain some phenomenon. Data Mining builds intuition about what is really happening in some data and is still little more towards math than programming, but uses both.

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.

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