Data Mining

 

DATA MINING

 

    What is Data mining?

Data mining is a  process of extracting a useful  information from a large database or data. The large database or data can be converted into useful information by the creating several algorithms and identifying several pattern. These information can helps to analyze the data and build the strategies according to it.

INFORMATION IS WEALTH

Data mining concept behind the Tik-Tok
Now, the latest video sharing platforms gathers a huge amount of data from their users. The well –known example of data mining concept is the Tik-Tok, the Tik-Tok gathers a huge amount of data (i.e.) age, gender, phone number, locations, the preferred payment method, etc.  from the end user and it can use for the any other product manufacturing, creating software or it can sell the data to the many multinational companies. Now the Tik-Tok have been banned in many leading countries of the world like India, USA, Australia, Japan, European nation and so on. This is due to information gathered by Tik-Tok can destroy these countries economic wise.
Types of Data mining
·      Pictorial
·      Text
·      Video
·      Social media
·      Audio
·    Web and so on.
Applications of Data mining
It has many useful applications, the some of the applications are
1.          Bank
In banking with the help of data mining, customer credit card score or approval, bank’s profitability, predicting the default payment methods, detecting the fraudulent transaction, cash management and so on.

 
2.          Healthcare
Data mining is very much useful in the healthcare system .It is used to collect the information of the patients with the reports of the patients and to identify the difficulties of the patients and the disease that most of the patients are affected and to find the solution for it.

 
3.          Education
In education, data science have created a new field in it named Educational Data Mining. The main objective of the EDM is to identify the current educational trend, future student’s behavior, how are they updated to current technologies and so on, with the identified information it can take decisions for the teaching methods and symbols, etc.
4.          Research analysis
In research, it can be used to gather the information from the bunch of data. For example if we are gathering information for about the average age of Indians. We need to collect the data from the government or we can conduct surveys or by launching app. By collecting the data we can extract the information.

 
Story for advantages
Two friends named Ram and John planned to start a shop in their town. Ram used the data mining concept to analyze the people in their town but John didn’t use any concept. By analyzing he came to know that there will be a huge demand for specs shops in their town. John started a watch shop with huge investment but Ram started s specs shop with medium investment. After 5 years, John’s watch shop returns ₹30000/m(apr) whereas Ram’s specs shop have grown with 2 branches and returns ₹100000/m(apr) .
 
Advantages of Data mining from story
·      It is used to predict the future trend
·      it is used to increase the revenue
·      it is used in decision making
Disadvantages of Data mining
1. Privacy
Eg: - Tik-Tok gathers the information of the end users without any permission of the end users. This comes under privacy
2. Security
               Many data lose or data breach can be happen due to malicious action such as hacking, virus.
 
3. It cannot be perfect all the times
Eg: - When we use Data mining in stock market, it cannot be at all the times.
 
Software used for data mining

1. Sisense
2. Wyn Enterprise
3. Qualtrics Research Core
4. CXAIR Platform
5. Zoho Analytics
6. Looker
7. Reveal
8. Oracle Data Mining
9. Yellowfin
10. RapidMiner
11. Microsoft SharePoint
12. IBM Cognos
13. KNIME Analytics Platform
14. Dundas BI