DATA MINING

Data mining plays an important role in business organizations. Various industries require data mining for various applications. Data Mining is a process of constructing, verifying data in order for reporting, estimation or comparing purposes. Data mining helps industries to filter relevant information. It helps in getting accurate results which in turn improves better decision making capability. There is hardly any sector that is not using data mining techniques to achieve its objectives. When it comes to health care it is used to analyze the data to identify the best practices that improve care and reduce costs. It helps marketing companies to build models based on past historical data which will help them to increase their appropriate approach of selling its products and services to customers. Financial institutes will also benefit from this innovative approach where they can track their past records and determine good and bad loan and also help to detect fraudulent credit card transactions to protect credit cards owner. Manufacturers can detect faulty equipment and determine optimal control parameters which will help them to improve their business functions.