How does your favorite online retailer prompt product suggestion as you shop online? How do credit card companies target customers with their promotional credit card offers? The answer to these questions invariably involves a concept known as data mining.
When you hear the term data mining, it conjures images of a person sitting in front of a computer screen digging through a vast mountain of numbers to extract precious nuggets of information that can provide valuable insights and solutions. While this slightly belabored metaphor is not entirely fiction, the reality of modern day data mining is much more sophisticated.
In information technology parlance, data mining is not limited to the extraction of data from a data warehouse. Instead, it is the process of discovering trends and patterns in data through the use of computing technology, algorithms, and statistical analysis.
In recent nomenclature, this process has been synonymous with the more generalized concept of “knowledge discovery in databases” or KDD. Trendy industry terms such as machine learning, artificial intelligence, and text mining are some of the cornerstone data mining techniques currently being applied in a variety of fields such as healthcare, marketing, advertising, and online retail among others.
My name is Unni Mundaya and I have studied and worked in the data analytics space for the past 8 years, primarily in the healthcare domain. You can find more details about me in my bio.
There have been rapid advancements in data mining, both in terms of the technology and its applications over the last 20 years. This blog will be devoted to demystifying some of the more esoteric concepts related to data mining and will highlight some of the applications of these techniques currently being employed by organizations worldwide. I welcome your feedback as I explore this topic in my future entries. Stay tuned!