SIZ Approved Course | Data Mining | Lecture 01 | Meaning of Data mining/Applications. By @goodybest

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Welcome to My blog! I trust everyone is great, as for me I'm cool and it pleases me to kick-start my lectures! so today I will be handling Data Mining. Over the years many large organisations have accumulated massive amount of data about their customers, suppliers, products and services. "Even new internet-based companies have amassed large databases about people and products as they have grown". The internet itself provides a large data repository with untold potential. With the growing realization that these vast data resources can be tapped for significant commercial gain, interest in data mining data warehousing and data marts has literally exploded.

data mining refers to extracting and analysing data from different sources and summarising the data into useful information or you can simply put data mining is the method of extracting pattern from data.

• The main objective of data mining is to look for (hidden) patterns in the data that can be used for formulating a business strategy or to look for unusual behaviour.
• Data mining is becoming more vital tool to transform data into information. note that data normally comes in raw form so it is data mining that will help to transform it to useful information.

It is a powerful technology that predict future trend and behaviors

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Data mining includes a variety of interesting applications, a few examples includes:

• Recording the activity of shoppers in an online store like the amazon.com overtime, retailers can use knowledge of these patterns to improve the placement of items in the layout of a Mail-order, catalogue page, or web.

• The telephone companies can mine customer billing data to identify customers who spend considerably more than average on their monthly phone bill. Then the company can target this customers to sell additional services.

• Marketers can effectively target the wants and needs of specific customer groups by analysing data about customer preferences and buying patterns.

• hospitals can use data mining to identify groups of people whose health care cost are likely to increase in the near future so that preventive steps can be taken.

In summary the purpose of data binding is to analysed and understand past trends and predict future trends, and by predicting future trends business organizations can better position their products and services for financial gain. Non-profit organisations have also achieved significant benefits from data mining such as in the area of scientific progress

the concept of data mining is simple but powerful. Well the simplicity of the concept is deceiving, however. Traditional methods of analysing data involving query-and-Report approaches cannot handle tasks such as magnitude and complexity so the question now is how does data mining works, and what are the data mining techniques? This question will be answered in our next lecture. Hope you like my lectures! The floor is open for questions, comments and additional information. Thank you!

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