Data Mining And Business Analytics

1352 Words6 Pages
MIS 5375 580 SU15
Data Mining & Business Analytics
Midterm Exam Summer 2015 by Tamma Shanthipriya
A00128661

DATA MINING AND BUSINESS ANALYTICS
Data Mining is the computerized acknowledgment of diverse patterns in extensive data sets that are past analysis. It utilizes diverse mathematic algorithms to locate the right information as well as foresee the probability of future events. Some key properties that I learned in this topic are:
• discovery of useful patterns
• predictions of their future outcomes
• analysis on larger datasets
• useful data from them With increasing data the storage of the data must also be increased, which is a problem. So, data is stored or recorded in the form of computer data bases which makes easy to access the right data at any given point of time. To extract the right data from all these present volumes of data, usually certain traditional way of data analysis like regression analysis, cluster analysis, numerical taxonomy, multi-dimensional analysis, time series analysis , estimation outcome analysis and many more are used.
Both data mining and data analysis are a subset of Business Intelligence which also includes data management systems, data warehouses and Online analytic processing(OLAP). To manage the mountains of information, the data is put away in a warehouse of information accumulated from different sources, including corporate databases, compressed data from interior frameworks, and information from outer
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