| Data Mining is defined as the extraction of | | | | probing it to find exactly where the value resides. |
| required information or knowledge from large | | | | Data mining automates the process of finding |
| databases. This is a powerful new technology with | | | | predictive information in large databases. Data |
| great potential to help companies focus on the | | | | mining tools sweep through databases and identify |
| most important information in their data | | | | previously hidden patterns in one step. Data mining |
| warehouses. The tools related to this new | | | | techniques can yield the benefits of automation on |
| technology predict future trends and behaviors, | | | | existing software and hardware platforms, and |
| allowing businesses to make proactive, | | | | can be implemented on new systems as existing |
| knowledge-driven decisions. The automated, | | | | platforms are upgraded and new products |
| prospective analysis offered by data mining move | | | | developed.. Powerful systems for collecting data |
| beyond the analysis of past events provided by | | | | and managing it in large databases are in place in |
| retrospective tools typical of decision support | | | | all large and mid-range companies. |
| systems. Data mining tools can answer business | | | | Data Mining is predicted to be amongst the top |
| questions that traditionally were too time | | | | five technologies of the world that are poised for |
| consuming to resolve. This new technology takes | | | | fantastic growth and development in the next |
| the process of knowledge and information | | | | five years. Data Mining today assumes importance |
| acquisition beyond retrospective data access and | | | | and significance because of the increasing thrust |
| navigation to prospective and proactive | | | | on knowledge and information which is an |
| information delivery. | | | | essential factor in successfully running ebusiness. |
| The Technology derives its name from the | | | | Data Mining cannot replace completely human |
| similarities between searching for valuable business | | | | analysis and interaction. But it can greatly assist |
| information in a large database and mining a | | | | human intellect to take well thought out decisions |
| mountain for a vein of valuable ore. Both | | | | through fast computing capabilities and through |
| processes require either sifting through an | | | | pinpointing thrust areas of the concerned business. |
| immense amount of material, or intelligently | | | | |