The influence of technology on the world is constantly growing. In this new age where everything is being shifted to the online sphere, data has risen as the new currency. It has become the most important asset of every organization. Hence the uses of data mining in today’s world cannot be undermined or understated.
Data mining seems like magic to most people. Extreme accuracy and precision with the data loads are what make this highly powerful and as much intriguing. Data mining can be said to be an offshoot of the entire set of database technologies. It is a multi-pronged process that employs many elements from statistics like classification, regression, clustering and association. Additionally, many other non-statistical tasks are also an integral part of it. Earlier, going into the technical lanes that lead to data mining, let us take a short halt and try to arrive at its definition.