Data Mining Techniques

Today, I learned about data mining techniques. Data mining is a method used in BIG Data to find correlations and patterns within massive data sets. There are various data mining techniques which allow organisations to lower costs and increase their revenue. 

Data mining allows you to sort through massive amounts of unstructured data to figure out which parts are relevant so you can use those parts to predict outcomes, allowing you to make informed decisions faster. 

One data mining technique is to track patterns in the data set, such as data that is repeating at regular intervals or anomalies within the data. This can help organisations to recognise trends within the data which could provide information such as a spike in the sales of a product at a specific time of the year.

The other data mining technique is classification which is more complicated than just tracking patterns as it combines a collection of variables into different categories which can be used to provide insight into decisions, such as analysing an individuals previous financial decisions and purchases to provide insight to make a decision if they would be a good candidate for a loan.

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