Data Mining Applications
Data mining applications are often using machine learning techniques in order to mine big data. There are a wide variety of commercial application fields such as in retail, in the finance sector, in manufacturing and machine maintenance, medicine, and telecommunications. More details for the use of data mining in retail can be found in our article retail analytics for example. In science and engineering large quantities of data in physics, chemistry, astronomy, and biology are analyzed using data mining techniques with the help of fast computers. Also, as the World Wide Web (WWW) is constantly growing the search for relevant information and analyzing WWW users behavior is done automatically as well using such techniques. Please refer to our article data mining definition for a more concrete understanding of data mining itself.
In the finance sector, one example application is within banks that analyze their historical datasets in order to build models to use in credit applications of their customers. Further applications in this sector include fraud detection during credit card usage and usage in the broader areas of the stock market context. In the manufacturing industry, data mining with applied machine learning techniques are often used for optimization, control, and troubleshooting during production processes. Already today and in a promising future in medicine, applications use data mining and machine learning for medical diagnosis or personalized patient care. In the broad area of telecommunications the call patterns of customers are analyzed for network optimization and to provide a better quality of service.
Data Mining Applications Details
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