“Data Mining extracts business knowledge from a Data Warehouse”. Elaborate the statement.
Answers
Answer:
Data mining is the process of analyzing data from different sources and summarizing it into relevant information that can be used to help increase revenue and decrease costs. Its primary purpose is to find correlations or patterns among dozens of fields in large databases.
Answer:
Data forms the key to every business.
Data mining is the process adopted by companies to filter and screen the data, categorize them and decipher meaning out of it.
For example, if a company is planning to launch a product, then the demographics data will be useful for them.
From the data warehouse they can use the data mining process to extract the number of people in the certain age group.
This will help them strategize their business move and marketing strategies for the future.
It makes use of processes like machine learning, statistics, and database systems