Statistical Analysis and Data Mining

Data Mining is surely an analytic process designed to explore data (usually huge amounts of knowledge – typically business or market related – also known as “large data”) searching for consistent designs and/or systematic associations between variables, then to validate the findings using the detected designs to new subsets of knowledge.

The very best purpose of data mining is conjecture – and predictive data mining is regarded as the everyday kind of data mining then one that has one of the most direct business programs. The whole process of data mining includes three stages:

  • the very first exploration,
  • model building or pattern identification with validation/verification, and
  • deployment (i.e., using the model to new data so that you can generate forecasts).