Data Mining

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Data Mining

The practice of looking for a pattern in a large amount of seemingly random data. Data mining is usually done with a computer program and helps in marketing. That is, a company can look at the (publicly available) purchase patterns of a person or group of persons and determine what products to direct at them.
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References in periodicals archive ?
Bob Etheridge, D-N.C., as to how the RMA calculated the $456 million figure, Gould said the agency was able to use the data-mining "to find out producers that were found to be filing fraudulent claims ...
* a view allowing management (import, export, rename, delete, visualise) of the data-mining models stored in the database
(1) The data-mining process allows a company to harness data generated from normal business processes to create knowledge for solving business problems.
Further research should now emphasize the use of data-mining methods, in combination with experts' knowledge, to tackle the complex dynamics of the population's genetics of tubercle bacilli and TB transmission (3).
Undoubtedly the NVO will also rely on data-mining techniques.
"The power and speed of Enterprise Miner software running on Compaq's 64-bit Alpha processors utilizing Compaq's Digital UNIX is absolutely critical to the largest and most complex production data-mining applications," said Mark Brown, SAS Institute's program manager for data mining and analytical solutions.
GSTAT is one of Europe's largest data-mining centers of excellence, with numerous successes in sectors including retail.
While insurance executives appreciate the leverage that pricing has on their loss ratios and premium volume, few have the technical knowledge or time to test and dictate the critical ratemaking assumptions that will shape their company's future; and while insurance regulators recognize their obligation to protect consumers from excess profits and unfair discrimination, few have the resources to examine all the new and innumerable risk classifications and test the scores of new and varied data-mining and rate-development techniques.
One challenge, however, is that computer companies have not always been able to deliver the results promised by such data-mining, mostly because computers have trouble distinguishing significant from insignificant correlations--a problem that becomes more difficult the larger the database is.
Because data-mining software now proves userfriendly, personal-computer based, and, thus, affordable, law enforcement agencies at all levels can use it to help effectively handle this increased flow of data.
The application of data-mining methods to the improvement of e- learning systems will allow teachers to discover new areas of knowledge based on students' usage data, according to the editors (both of the U.
Of the 199 data-mining efforts identified by the GAO, 122 are using personal information, and many of these efforts use sensitive private-sector data such as credit reports or bank account numbers.