Data Mining

Data mining is a process using a diverse array of data analysis tools to extract relevant data and identify patterns for increasing revenues and reducing costs for businesses. The key applications of data mining are in business are in profiling practices. While employing such practices, massive volumes of available data necessitate some way of discriminating between relevant data and noise. Such correlated data can then be used for decision making in business problems.  One fundamental aspect of this practice is that it indicates prospective trends and not just retrospective ones, which makes it immensely useful for decision makers.

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