Data mining is a collection of computer technologies that an

Data mining is a collection of computer technologies that analyze information to discover previously unknown and potentially useful information, including relationship s and patterns. By applying data mining technologies you can predict future sell trends and customer behaviors. You can identify patterns of financial fraud and terrorist attacks.

• Explain why data mining has become so important in today’s business world.

• Application areas of data mining technologies in business, which include government, finance, banking, and marketing.

Please identify one application area and conduct research on the Internet to find out how data mining is being studied and applied in these areas.

Solution

Data mining is a process which is used to extract information that is present in the data set and that data that is converted into understandable format for the future use. The Data mining tools that are used to foresee the future trends and behaviour which makes the business in order to take better decisions for future. By using this data technology we can predict the future selling trends and the behaviour of the customer.