Like how mining for gold is digging through earth and rock for the valuable bits, data mining is sorting through large data sets to find the valuable information. It uses software, algorithms, and statistical methods to identify patterns in data, which then helps answer business questions. Data mining techniques are used in many business research areas like marketing, risk management, fraud detection, cybersecurity, medical diagnosis, and in mathematics, and research disciplines like cybernetics, and genetics.
Does your organization use data mining? What are some other benefits you’ve reaped from it? Share your thoughts in the comments, and be sure to hit that like button.
