Data Trends and Mining

Paper Summary:

Data mining has become a very important concept today and is used by companies all over the world to increase their profits and target the right market. The paper talks about the different aspects of data mining, tools used, and future trends in data mining. Data mining benefits are discussed in detail, and an entire discussion related to the trends in data mining is presented.

1-Background
2-Introduction
3-Data Mining Growth and Tools
4-The Data Mining Process
5-Data Mining Market Place Trends
6-The Data in Data Mining and Meta Data
7-Types of Data Mining Problems
8-Privacy and Ethical Sensitivity in Data Mining Results
9-Future Prospects of Data Mining
10-Works Cited

From the Paper:

"Data, particularly in the vast diversity and immense quantity that it is available to modern business, was till recently almost very hard to find and understand. Yet, the comprehension of data is the most crucial step to extracting the knowledge that it contains. The scenario has drastically changed today where data is much more easily available and has become more "meaningful" with the utilization of Data Mining. Today, technology offers business managers powerful new tools for gleaning knowledge from data-the essentials of data mining. Data mining has become increasingly important to mainstream companies to become more competitive both in their workings and their customer based relationships. Data mining, as such is of great interest because it is imperative for organizations to grasp the competitive value of information contained within their data repositories. There are a number of pertinent benefits of data mining. First of all, data mining provides the tools and techniques that are essential for optimization of customer relationships. Secondly, data mining provides an automatic method of discovering patterns in data. Thirdly, but not the least, data mining tools can identify the relationships that are actually present in historical data."

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• Research Paper # 31418 : "Data Warehousing and Data Mining"

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