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The related terms data dredging, data fishing, and data snooping refer to the use of data mining methods to sample parts of a larger population data set that are (or may be) too small for reliable statistical inferences to be made about the validity of any patterns discovered. These methods can, however, be used in creating new hypotheses to ...
In business, data mining is the analysis of historical business activities, stored as static data in data warehouse databases. The goal is to reveal hidden patterns and trends. Data mining software uses advanced pattern recognition algorithms to sift through large amounts of data to assist in discovering previously unknown strategic business ...
Data mining is a particular data analysis technique that focuses on statistical modeling and knowledge discovery for predictive rather than purely descriptive purposes, while business intelligence covers data analysis that relies heavily on aggregation, focusing mainly on business information. [4]
Considering all the above-mentioned definitions, affinity analysis can develop rules that will predict the occurrence of an event based on the occurrence of other events. This data mining method has been explored in different fields including disease diagnosis, market basket analysis, retail industry, higher education, and financial analysis.
The term "data science" has been traced back to 1974, when Peter Naur proposed it as an alternative name to computer science. [6] In 1996, the International Federation of Classification Societies became the first conference to specifically feature data science as a topic. [6] However, the definition was still in flux.
Data Warehouse and Data mart overview, with Data Marts shown in the top right.. In computing, a data warehouse (DW or DWH), also known as an enterprise data warehouse (EDW), is a system used for reporting and data analysis and is a core component of business intelligence. [1]
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The term is roughly synonymous with text mining; indeed, Ronen Feldman modified a 2000 description of "text mining" [6] in 2004 to describe "text analytics". [7] The latter term is now used more frequently in business settings while "text mining" is used in some of the earliest application areas, dating to the 1980s, [ 8 ] notably life-sciences ...