Data mining - Glossary

Data mining is the process of turning raw data into insightful treasures by sifting through vast volumes of information to uncover hidden patterns and relationships. It's much like being a modern-day detective where instead of magnifying glasses algorithms and advanced techniques are employed to reveal the secrets nestled within data. Imagine a retail company that wants to understand customer preferences better. By using data mining they can analyze purchase histories web behavior and social interactions. The insights gained might reveal that customers buying a certain brand of shoes frequently purchase a specific type of jacket as well. With this knowledge the company could tailor marketing strategies and improve product recommendations ultimately enhancing customer satisfaction and boosting sales. Data mining therefore plays a pivotal role in transforming the way businesses understand and utilize data to make informed decisions.