Data mining is the computing process of discovering patterns in large data sets involving methods at the intersection of artificial intelligence, machine learning, statistics, and database systems. It is an interdisciplinary subfield of computer science. The overall goal of the data mining process is to extract information from a data set and transform it into an understandable structure for further use.
As Data Mining Specialist's our role is to design data Modeling / Analysis Services and responsible for the creation and enhancement of statistical and predictive models that are used to mine Enterprise systems, large numbers of raw data, and applications for knowledge and information that enhances business processes / for further action. We can also build, deploy, and maintain Data and definitions for database creation.
We provide strategic and tactical advice to clients by translating analytical solutions into out-of-the-box execution recommendations addressing business objectives and impacting positive results.
We can facilitate and implement the systems needed for the analysis can explain and present hypotheses and analysis results in a clear and concise manner.
What kind of data can be mined?
- Flat files
- Relational Databases
- Data Warehouses
- Transaction Databases
- Multimedia Databases
- Spatial Databases
- Time Series Databases
Challenges of Data Mining are:
- Complex and heterogeneous data
- Data Quality
- Data ownership and distribution
- streaming data
- Privacy preservation
Following techniques can be applied for Data Mining:
- Decision Trees
- Association Rules
- Sequential Patterns
- Time Series Analysis
Data Mining Discovery Process-
- Data Cleaning
- Data Integration
- Data Warehouse
- Selection and Transformation
- Task Relevant Data
- Data Mining
- Pattern Evaluation
- Knowledge Representation
Advantages of Data Mining-
Marketing Retails- In order to create models, marketing companies use data mining. This was based on history to forecast who’s going to respond to new marketing campaigns such as direct mail, online marketing, etc. This means that marketers can sell profitable products to targeted customers.
Finance/Banking- Since data extraction provides information to financial institutions on loans and credit reports, data can determine good or bad credits by creating a model for historic customers. It also helps banks to detect fraudulent transactions by credit cards that protect the owner of a credit card.
Researchers- Data mining can motivate researchers to accelerate when the method analysis the data. Therefore they can work more time on other projects. Shopping behaviors can be detected. Most of the time, you may experience new problems while designing certain shopping patterns.
Therefore data mining is used to solve these problems. All the information on these shopping patterns can be found by mining methods. This process also creates an area where all the unexpected shopping patterns are calculated. This data extraction can be beneficial when shopping patterns are identified.
Determining Customer Group- Data mining can be used to respond from marketing campaigns to customers. It also provides information during the identification of customer groups. Some surveys can be used to begin these new customer groups. And these investigations are one of the forms of data mining.
Increases Brand Loyalty- In marketing campaigns, mining techniques are used. This is to understand their own customers ‘ needs and habits. And from that customers can also choose their brand’s clothes. Thus, you can definitely be self-reliant with the help of this technique. However, it provides possible information when it comes to decisions.
Helps Decision Making- These data mining techniques are used by people to help them in making some sort of decisions in marketing or in business. Today, with the use of this technology, all information can be determined. Also, using such technology, one can decide precisely what is unknown and unexpected
Increases Company Revenue- Data mining is a process in which some kind of technology is involved. One must collect information on goods sold online, this eventually reduces product costs and services, which is one of the benefits of data mining.
To Predict Future Trends- All information factors are part of the working nature of the system. The data mining systems can also be obtained from these. They can help you predict future trends and with the help of this technology, this is quite possible. And people also adopt behavioral changes.
Increases Website Optimization- Data mining can be used to find all kinds of unseen element information. And adding data mining helps you to optimize your website. Similarly, this data mining provides information that may use the technology of data mining.