Data mining, the
extraction of hidden predictive information from large databases, is a
powerful new technology with great potential to help companies focus on
the most important information in their data warehouses. Data mining
tools predict future trends and behaviors, allowing businesses to make
proactive, knowledge-driven decisions.
prospective analyses offered by data mining move beyond the analyses of
past events provided by retrospective tools typical of decision support
systems. Data mining tools can answer business questions that
traditionally were too time consuming to resolve. They scour databases
for hidden patterns, finding predictive information that experts may
miss because it lies outside their expectations.
The purpose of this web site is to assist data mining professionals in
advancing their careers. This site will provide information on data
mining job openings and resources that will be useful to those
presently in the field and those who are just beginning their careers.
This site is intended to serve as a good starting point for people
focused on various aspects of knowledge discovery process including
data mining, Decision Support and Web Mining.
This tutorial gives a brief introduction into a Data Mining process,
its techniques and applications. It is intended for fast start of
newcomers, with intention to give good overview of the field, rather
than exact and in-depth explanations. Loosely speaking it has three
layers: the overall view of the Data Mining process with all
underlaying steps, brief definition of particular steps and activities
and more detailed picture of most important techniques, applications
and technical terms.
Data mining, if you haven't heard of it before, is the automated
extraction of hidden predictive information from databases. I
have spent the past fifteen years building commercial data mining and
data analysis systems, solving problems across fields such as financial
services, the life sciences, insurance, and telecommunications. I
am currently Vice President of Strategic Technology at Capital One,
where I lead the company's advanced technology group.
The increasing use of computer technology in many areas of economic,
scientific and social life is resulting in collections of digital data.
These data pools could be used to obtain a higher quality of
information than that obtained from simple database inquiries. This is
where Data Mining comes in.
Data Mining is the process of analyzing large data sets in order to
find patterns that can help to isolate key variables to build
predictive models for management decision making. In essence, data
mining helps businesses to optimize their processes so that their
customers receive the most relevant services and the costs of serving
them are proportionate to the value of the profits earned from them, a
company’s exposure to risk is proportionate to premiums earned, etc.
Data Mining enables companies to segment their customer base and to
tailor products and services to the needs and purchasing power of
individual groups of customers.