Data Mining And Business Analytics - 1352 Words

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 outerShow MoreRelatedBusiness Intelligence, Business, And Data Mining1544 Words   |  7 Pages1. Introduction to Business Intelligence, Business Analytics and Data Mining Business Intelligence Business Intelligence is a process which includes different technologies and methods process for analysing data and presenting information which is helpful for top level management.BI includes various tools, application, and methodologies that enable organizations to collect data from internal and external sources, prepare that for analysis develop and run queries against the data and generate differentRead MoreStatistical Analysis : The Big Data Analytics1399 Words   |  6 PagesThe big data analytics deals with a large amount of data to work with and also the processing techniques to handle and manage large number of records with many attributes. The combination of big data and computing power with statistical analysis allows the designers to explore new behavioral data throughout the day at various websites. 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