Methods of Data Mining

DATA MINING

2009

Data Mining

Introduction

The 21st century is the era of information . Different from previous eras where money and power are considered the most important factors in business , in this era , we discover that information is considered the most valuable commodity

Information exchange becomes a profitable business because every industry in the world requires information , including the `information-trading ' industry itself . In this , I will elaborate further on how information can influence the proceedings of a business through a concept called data mining Overview of Data

Mining

II .1 . Basic Idea of Data Mining

There are actually many definitions of data mining . One might call data mining the process of analyzing data from various perspectives and then summarize it into useful information others might call it simply the process of extracting hidden patterns from data . The core of the idea however , is easy to grasp , which is making use of data to produce usable information for specific purposes . The purposes of performing data mining can vary limitlessly , but the practice of data mining itself has become more and more important in recent years . Data mining can be applied to any data sets and used for various applications like fraud detection , scientific research and discovery , marketing applications etc

II .2 . Data Mining In Modern Life

People have actually been extracting information from sets of data for decades and even centuries . There is not telling when the first human started to analyze the first data set and draw a useful...