IN WHAT WAY DATA MINING IS

IMPORTANT.

Why do we need Data Mining?

Have a look at the below-mentioned points which

explain why data mining is required.

1. Data mining is the procedure of capturing

large sets of data in order to identify the
insights and visions of that data. Nowadays,
the demand of data industry is rapidly
growing which has also increased the
demands for Data analysts and Data
scientists.
2. Since with this technique, we analyze the
data and then convert that data into
meaningful information. This helps the
business to take accurate and better
decisions in an organization.
3. Data mining helps to develop smart market
decision, run accurate campaigns,
predictions are taken and many more.
4. With the help of Data mining, we can
analyze customer behaviors and their
 insights. This leads to great success and
data-driven business.

ADVANTAGES OF DATA MINING

Check out the below-mentioned Data mining

benefits

1. With the help of Data mining- Marketing

companies build data models and prediction
based on historical data. They run campaigns,
marketing strategy etc. This leads to success
and rapid growth.
2. The retail industry is also on the same page
with marketing companies- With Data
mining they believe in predictive based
models for their goods and services. Retail
stores can have better production and
customer insights. Discounts and redemption
are based on historical data.
3. Data mining suggest banks regarding their
financial benefits and updates. They build a
model based on customer data and then
check out the loan process which is truly
based on data mining. In other ways also
 Data mining serves a lot to the banking
industry.
4. Manufacturing obtains benefits from Data
mining in engineering data and detecting
the faulty devices and products. This helps
them to cut off the defected items from the
list and then they can occupy the best
services and products in place.
5. It helps government bodies to analyze the
financial data and transaction to model
them to useful information.
6. Data mining organization can improve
planning and decision makings.
7. New revenue streams are generated with the
help of Data mining which results in
organization growth.
8. Data mining not only helps in predictions
but also helps in the development of new
services and products.
9. Customers see better insights with the
organization which increase more customer
lists and interactions.
 10. Once the competitive advantages are made
it reduces with cost also with the help of
data mining.

There are many more benefits of Data mining and

its useful features. When data mining combines
with and Big data, it is completely changed into
a new trend which is the demand of data-driven
market.

Data Mining Applications

Here is the list of areas where data mining is widely used −

 Financial Data Analysis

 Retail Industry
 Telecommunication Industry
 Biological Data Analysis
 Other Scientific Applications
 Intrusion Detection.

Trends in Data Mining

Data mining concepts are still evolving and here are
the latest trends that we get to see in this field −
-Application Exploration
-Scalable and interactive data mining
methods.
 -Integration of data mining with database
systems, data warehouse systems and web
database systems.
- Condition of data mining query language.
-Visual data mining.
-New methods for mining complex types of
data.
-Biological data mining.
-Data mining and software engineering.
-Web mining.
-Distributed data mining.
-Real time data mining.
-Multi database data mining.
-Privacy protection and information security in
data mining.

Importance Of Data Mining In

Today’s Business World
-Data Mining is largely used in several applications such as
understanding consumer research marketing, product analysis,
demand and supply analysis, e-commerce, investment trend in
stocks & real estates, telecommunications and so on. Data
Mining is based on mathematical algorithm and analytical skills
to drive the desired results from the huge database collection.

-Data Mining has great importance in today’s highly competitive

business environment. A new concept of Business Intelligence
data mining has evolved now, which is widely used by leading
corporate houses to stay ahead of their competitors. Business
Intelligence (BI) can help in providing latest information and
used for competition analysis, market research, economical
trends, consume behavior, industry research, geographical
information analysis and so on. Business Intelligence Data
Mining helps in decision-making.

-Usually data mining requires lots of manual job such as

collecting information, assessing data, using internet to look for
more details etc. The second option is to make software that will
scan the internet to find relevant details and information.
Software option could be the best for data mining as this will
save tremendous amount of time and labor. Some of the popular
data mining software programs available are Machines, Free
Text Software Technologies, Text Analyst, SAS Text Miner,
Profiling .
FROM : TO
JANMEJAI TOMAR
B.TECH BIOTECH Mr. SAMEER SAXENA
SEM-4