Asking the right questions, and collecting the right data to answer those questions, is critical to successful data mining.ĭata mining is vital to business operations across many industries. Through data mining, the florist can assess past sales, check what customers are searching for online, gauge their interests through social media posts, and make projections based on the success of other recent events during the year. For this reason, data mining often begins with a question.įor example: How many flowers should a florist order prior to a major event? Ultimately, organizations in every industry - from government and finance, to healthcare and technology - have questions to answer and projections to make. Further, data mining requires knowledge of industry problems and the data that will help solve them. To do their jobs, data mining experts have to know how to collect and store data, work with databases, and extract the proper data from them. How, for instance, can a florist use daily sales totals, online searches for their store, and comments on the store’s Facebook page to determine which flowers to order? Data mining can provide an answer. This process may seem complex, but it is not as difficult as it sounds, and the skills it encapsulates can greatly benefit those looking to become data scientists.īecause of the volume and differing types of data we create daily, assessing and determining their relationships can be difficult and time-consuming. Instead, a data miner’s responsibilities revolve around analyzing that ore (i.e., the data) to predict its value or detect useful patterns within it. Though the name evokes images of a miner digging for ore, data mining doesn’t focus on the dig. Data mining is an interconnected discipline, blending the fields of statistics, machine learning, and artificial intelligence. Data miners can then use those findings to make decisions or predict an outcome. What Is Data Mining?ĭata mining is the process of analyzing dense volumes of data to find patterns, discover trends, and gain insight into how that data can be used. An exabyte has 18 zeros that’s an incomprehensibly vast amount of data to mine.īut what is data mining? In this article, we’ll explore data mining techniques and tools, important industry terms, and even explain its importance to a career in data science. According to the World Economic Forum, worldwide data production will reach 463 exabytes daily by 2025. Data shapes every corner of our world, and understanding how to use it properly is key to success in finance, commerce, education, and even sports and entertainment.
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