In this case, Data mining is a technique of using statistical analysis to figure out hidden patterns and outliers in big data sets. It helps in saving time for decision making and understanding complex data by predicting outcomes.
How does it work?
This gives you the chance to take “AutoML” tools apart and expose probable patterns while simplifying analytics. This replaces the old system where scientists created models they refined into business strategies.
What are some of its techniques?
Classification: This organizes data into classes to make accurate forecasts
Regression, which predicts figures based on how input variables correlate with a target, thereby helping in making decisions
Clustering that groups instances of given dataset according to their attributes thereby exposing natural patterns.
The other methods include Association rule, Anomaly detection, Time series analysis, neural networks or artificial intelligence (AI), Decision trees and text mining.
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