Question

Why is data mining a key piece of analytics?

Answer 1

• Data mining is a key piece of analytics. Data mining is defined as a process used to extract usable data from a larger set of any raw data.
• Data mining aims to predict future outcomes.
• It implies analysing data patterns in large batches of data using one or more software.
• Data mining uses mathematical analysis to derive patterns and trends that exist in data.
• Data mining is also known as Knowledge Discovery in Data (KDD).
• Data mining is the exploration and analysis of large data to discover meaningful patterns and rules.    Data Mining Techniques :

Four techniques are;

1.Regression (predictive)

2.Association rule discovery (descriptive)

3.Classification ( predictive)

4.Clustering ( descriptive)

Data Mining provides the methodology and technology for healthcare organisation to :

1.evaluate treatment effectiveness.

2. save lives of patients using predictive medicine.

3. Manage healthcare at different levels.

4.detect waste ,fraud and abuse.

5. manage customer relationship.

Data mining can be used to decrease cost by increasing efficiencies and improve patient quality of life.

Disadvantagesof Data Mining:

1. Misuse of information

2. It violate people privacy.

3. Additional irrelevant information.

4. It can provide accuracy of data with it's own limits.