Data Mining
1. What is data mining?
Data mining is a process of extracting hidden trends within a data warehouse. For example an insurance data warehouse can be used to mine data for the most high-risk people to insure in a certain geographical area.
Data mining is a process of extracting hidden trends within a data warehouse. For example an insurance data warehouse can be used to mine data for the most high risk people to insure in a certain geographical area.
2. What are the advantages data mining over traditional approaches?
Data Mining is used for the estimation of future. For example, if we take a company/business organization, by using the concept of Data Mining, we can predict the future of business in terms of Revenue (or) Employees (or) Customers (or) Orders etc.
Traditional approaches use simple algorithms for estimating the future. But, it does not give accurate results when compared to Data Mining.
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