What is data mining?
Data mining means extracting important information which is saved in big data sets i.e. Big Data, like there are billions of information available on the internet which is increasing every second, but how to find the information you need from that huge amount of information. Information can be extracted.
So, to extract the information you need from a large data store i.e. Big Data and then use that information to improve the business or process, then this technique is called Data Mining. In this process of data mining, Data Mining Tool, Artificial Intelligence and Machine Learning are used.
How is data mining used?
In data mining, exactly the raw data is examined, after which the required information is collected from that raw data, which is used for analysis.
If we talk about the use of data mining technology in a business, then through data mining, information related to its customers is collected, such as customers’ preferences, needs, demands, etc. and on the basis of this, marketing strategies of the business are made, and Sale is increased.
For example, if you search for a product on the Internet, a record of the information you searched is established, which is saved in the form of data on the servers on the Internet, and whenever you search again. When you use the Internet, you start seeing other and new information related to the last searched product.
So all this is done through Data Mining, in which information is collected by filtering the raw data through Data Mining Process and it is used in business development.
Benefits of data mining :
There are many benefits of Data Mining and these benefits are not limited to any one industry, rather Data Mining is used in every sector to gather information and make action plans.
Marketing Retail:- In this, information about potential customers is collected through data mining, which helps in creating new marketing strategies and running campaigns and selling the product to the target customer.
Future Health Care: – Data mining is making a big contribution in the health sector, which includes collecting information related to patients, creating their categories, helping in improving treatment, studying the data of purchase of medical items and preventing wrong activities. Is.
Finance Sector:- In the finance sector, complete information about the customer can be collected through data mining like important information related to loan and credit report, information about bank defaulters and financial history of each customer, after which the customer can be divided into different categories.
Apart from all this, data mining is also being used in many other areas like education, CRM, manufacturing, preventing fraud, criminal investigation etc.
data mining techniques :
There are different techniques for mining the data which are as follows.
1. Association technique :-
Through this technology, information related to customer’s interest in a product and customer’s buying habits is collected, and according to this information, companies make their strategy, and show products to different customers according to their interest so that sales can be increased. .
2. Classification Technique:-
In this, categories are created according to the type of data mined, that is, a separate category is created for each type of data so that the data can be used immediately when needed. Besides, mathematical algorithms are also used for data classification.
3. Prediction Technique:-
This technique works on the basis of historical buying and selling, that is, further strategy is prepared on the basis of past data and also the latest trend is also kept in mind, and future sales and profits are also taken into account. Is predicted.
4.Sequential Pattern :-
In this, similar patterns i.e. form of data are detected from historical data and kept in a systematic manner. It is a type of order list which shows the type of purchase and product interest of the customer at different times.
5.Decision Tree:-
In this, data sets are broken into smaller subsets, and conditions are imposed, and then data is collected based on the decision. That is, at the time of purchasing a product, questions or conditions are put before the customer and different answers related to them are also given, according to which the decision tree works.
6.Clustering technique :-
In this technique of data mining, first of all similar and different data are understood, and then according to the type of data, it is divided into different groups. Every group is completely different from the other group, these different types of groups are called Clusters.