Data to Dollars

Encyclopædia Britannica Article

data mining

Type of database analysis that attempts to discover useful patterns or relationships in a group of data. The analysis uses advanced statistical methods, such as cluster analysis, and sometimes employs artificial intelligence or neural network techniques. A major goal of data mining is to discover previously unknown relationships among the data, especially when the data come from different databases. Businesses can use these new relationships to develop new advertising campaigns or make predictions about how well a product will sell. Governments also use these techniques to discern illegal or embargoed activities by individuals, associations, and other governments.

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