Data mining or data mining is the process of classification through large data sets to identify patterns and establish relationships to solve problems through data analysis. Data mining tools allow companies to predict future trends.
In data mining, association rules are created by analyzing data for frequent patterns, using support and confidence criteria to locate the most important relationships within the data. Support is the frequency with which items appear in the database, while confidence is the number of times the statements are exact.
Other data mining parameters include Sequence or Route Analysis, Classification, Clustering, and Forecast. The Sequence or Path Analysis parameters look for patterns in which one event leads to another subsequent event. A sequence is an ordered list of item sets and is a common type of data structure found in many databases. A classification parameter looks for new patterns and can result in a change in the way the data is organized. The classification algorithms predict variables based on other factors within the database.
Grouping parameters visually find and document groups of previously unknown facts. Grouping groups a set of objects and aggregates them based on how similar they are to each other.
There are different ways that a user can deploy the cluster, differentiating between each cluster model. Encouraging the parameters within data mining can uncover patterns in the data that can lead to reasonable predictions about the future, also known as predictive analytics.
Data mining techniques are used in many areas of research, including mathematics, cybernetics, genetics, and marketing. While data mining techniques are a means of driving efficiency and predicting customer behavior, if used correctly, a business can differentiate itself from its competition through the use of predictive analytics.
Web mining, a type of data mining used in customer relationship management, integrates the information gathered by traditional data mining methods and techniques over the web. Web mining aims to understand customer behavior and evaluate the effectiveness of a particular website.
