We live in a world where vast amounts of data are collected daily. Analyzing such data is an important need. we are actually living in the data age. Terabytes or petabytes1 of data pour into our computer networks, the World Wide Web (WWW), and various data storage devices every day from business, society, science and engineering, medicine, and almost every other aspect of daily life.
So why is data mining important?
the volume of data produced is doubling every two years. Unstructured data alone makes up 90 percent of the digital universe. But more information does not necessarily mean more knowledge. Be careful about selecting right data to choose best decisions. So:
Data mining allows you to:
- Sift through all the chaotic and repetitive noise in your data.
- Understand what is relevant and then make good use of that information to assess likely outcomes.
- Accelerate the pace of making informed decisions.
- Use predictive analytics to reveal new insights from data.