The technique of data mining has become increasingly popular in the modern era. Data Miners are being hired by most companies today, and it is predicted that every company in every industry will hire skilled artists who are proficient in mining data in the near future. You can choose to join our online data science course if you want to become a proficient data scientist.
Databases have become a fundamental tool for companies, as they allow them to create strategies to get new customers or retain regular ones. But, as a result of the massive generation of data, we are facing a problem, intoxication. We have so much information that sometimes it is impossible to organize it effectively. Therefore, the key is to discover patterns or algorithms to get the most out of it, and this is where Data Mining or data mining comes into play. Do you want to know what data mining is? Keep reading.
What is Data Mining?
Data mining is a set of techniques and technologies that allow large databases to be explored, automatically or semi-automatically, with the aim of finding repetitive patterns that explain the behavior of these data.
Although the idea of Data Mining may seem like a very recent technological innovation, this term actually appeared in the 1960s together with other concepts such as data fishing or data archeology. However, it was not until the 1980s that its consolidation began.
Data mining emerged with the intention or objective of helping to understand a huge amount of data and that these could be used to draw conclusions to contribute to the improvement and growth of companies. Especially when it comes to sales or customer loyalty.
Its main purpose is to explore, through the use of different techniques and technologies, huge databases automatically. The objective is to find repetitive patterns, trends, or rules that explain the behavior of the data that has been collected over time. These patterns can be found using statistics or search algorithms close to Artificial Intelligence and neural networks.
Therefore, the data is the means or the basis to reach conclusions and transform this data into relevant information, so that companies can encompass improvements and solutions that help them achieve their objectives
How to become a data miner?
The people who are dedicated to the analysis of data through this system are known as data miners or explorers. They try to discover patterns in the midst of huge amounts of data.
Their intention is to provide valuable information to companies in order to help them make future decisions. But we must be clear that choosing the best algorithm for a specific analytical task is a great challenge since we can find many different patterns. In addition, it will depend on the problems to be solved.
To be a data miner, you have to know how to turn data into assets of value. In this sense, the new Big Data techniques are fundamental because they allow efficient massive data management. In addition, Machine Learning algorithms allow us to take this data and infer the behavior of people with a strong probability of success. Therefore, if you want to dedicate yourself to data mining, I recommend that you find out about Skill Shiksha’s Online Data Science Course.
Advantages of Data Mining
Data analysis through Data Mining can bring numerous advantages to companies for optimizing their management and time, but also for attracting and retaining customers, which will allow them to increase their sales.
a) It allows us to discover information that we did not expect to obtain. This is due to its operation with algorithms since it allows many different combinations to be made.
b) It is capable of analyzing databases with a huge amount of data.
c) The results are very easy to interpret and no computer engineering skills are required.
d) It allows you to find, attract and retain customers.
e) The company can improve customer service based on the information obtained.
f) It gives companies the ability to offer customers the products or services they need.
g) Before using the models, they are checked using statistics to verify that the predictions obtained are valid.
h) It saves costs for the company and opens up new business opportunities.
However, there may also be some inconvenience when using Data Mining techniques. For example, depending on the type of data you want to collect, it can take a lot of work, or sometimes the initial investment to obtain the necessary technologies for data collection can be expensive. If you join our Online Data Science course, we will provide you with techniques that will reduce all the inconveniences you may encounter.
Techniques for Data Mining
Next, take note of the techniques you need to know to carry out data mining, that we have exclusively taken from the Skill Shiksha Online Data Science Course.
This is one of the most used techniques. In this technique, a transaction and the relationship between elements are used to identify a pattern. This is why it is also known as the “relationship technique.” It is used to carry out an analysis of the shopping basket, which is done to find out all those products that customers usually buy together, for example.
Grouping or clustering
This technique creates groupings of significant objects that share the same characteristics. It’s often confused with sorting, but if you have a good understanding of how these two techniques work, you shouldn’t have any problems. Unlike classification, which places objects into predefined classes, clustering places objects into classes defined by us.
This technique has its origin in machine learning. Classify elements or variables in a data set, into predefined groups or classes. It uses linear programming, statistics, decision trees, and artificial neural networks in data mining, among other techniques.
This technique predicts the relationship between the independent and dependent variables, as well as the independent variables alone. It can be used to predict future earnings depending on the sale. Suppose that profit and sale are dependent and independent variables, respectively. Now, based on what the past sales data says, we can make a prediction of future earnings with a regression curve.
This technique aims to use transaction data and then identify trends, patterns, and similar events in it over a period of time. Historical sales data can be used to discover items that customers bought together at different times of the year. Companies can understand this information by recommending customers to buy those products at times when historical data does not suggest they would. Companies can use offers and discounts to drive this recommendation.
How to perform data mining?
Data miners or explorers when carrying out a data mining analysis should perform the following steps: (Steps taken from our exclusive online data science course)
1# Commercial research
Before you begin, you should have a complete idea of your business goals, available resources, and the various current scenarios in line with the requirements. This would be very helpful in creating a detailed plan that achieves the goals of the organization.
2# Quality analysis
As we collect data from different sources, we will need to verify and compare data to ensure there are no bottlenecks in the data integration process. Quality assurance helps detect any anomalies in the data, such as missing data interpolation, keeping the data in tip-top shape before it is subjected to extraction.
3# Data cleaning
It deals with the selection, cleaning, enrichment, reduction, and transformation of the database. It is estimated that 90% of the time in this type of process is spent on this step.
4# Data Transformation
This step consists of five sub-steps. The processes involved make the data ready in the final data sets.
Noise is removed from the data
Dataset aggregation is applied in this process
Data is generalized by replacing any low-level data with higher-level conceptualizations
Data is defined in established ranges
Construction of data attributes:
Data sets must be in the attribute set before data mining
5# Data Modelling
Finally, for better identification of data patterns, various mathematical models are implemented on the data set, based on various conditions.
Currently, this type of work is being carried out in data security, finance, health, marketing, fraud detection, online searches, natural language processing, smart cars, among others. It is for this reason that data mining is becoming one of the jobs with the greatest projection for the future.
Types of data that can be mined
As we can imagine, not all data models can be mined. Next, we indicate which ones do:
Data stored in a database
A database may also be called a database management system or DBMS. Every DBMS stores data that is related to each other in one way or another.
It also has a set of software programs that are used to manage data and provide easy access to it. These software programs are used for many things, including defining the structure of the database or making sure that the information stored remains secure and consistent.
A data warehouse or data warehouse is a single data storage location that collects data from multiple sources and then stores it in the form of a unified plan. When data is stored in these systems it undergoes cleansing, integration, loading, and updating.
The transactional database stores record that are captured as transactions. For example, flight reservations, purchases, clicks on a website, etc. Each transaction record has a unique identity. It also includes all the elements that have made it a transaction.
Other Data Types
Finally, there are also many other types of data that are known for their structure, semantic meanings, and versatility. For example:
a) Engineering Design Data
b) Sequence data
c) Data flow
d) Graphics data
e) Spatial data
Differences between Data Mining and Big Data
Although it seems the same, Data Mining and Big Data are different concepts, although with the same base.
On the one hand, Big Data is a technology that has the ability to truthfully capture, manage and process all types of data, using tools or software that identify common patterns. These patterns could be specific characteristics of consumers, generation of parameters, metrics, among many others. In addition, they have the ability to change the way of doing business, since they allow companies to increase profitability and productivity.
Unlike Big Data, as mentioned above, when we talk about Data Mining we refer to the analysis of Big Data to search for and obtain specific information and thus be able to offer results that serve as a solution to optimize the activities of a company.
In summary, Big Data and Data Mining could be defined as the “asset” and the “management”, respectively.
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You are now ready to perform analysis with Data Mining! If you want to become a data expert, we recommend Skill Shiksha’s Online Data Science course. Among other things, you will learn to use the most important techniques and tools to handle large volumes of data and, in addition, you will know and know how to apply all the Machine Learning algorithms as well as their use through Neural Networks for their application in real environments. We will wait for you!