Data Mining and It

DATA MINING AND IT’S TOOLS
Data mining involves scrutinizing of raw data. This raw data can be anything like
the price of a particular commodity at a particular point of time, the data on
competitors, data on consumption pattern of a particular market segment, data
on what marketing strategies have worked out well in a particular industry, etc.
Data mining is also used for making business forecasts and predicting the
uncertainties which envelop various business entities working in different
sectors.
Also, the trend analysis is one of the major benefits of data mining as these
give out patterns which help in analysing the data faster and better and also
gives powerful insights for a better understanding of the consumer base and
their behaviour such as the purchasing pattern, the kind of goods in which the
consumer likes to spend, consumption patterns, frequency of purchases made
by the customer, etc. thus leading to a productive and curated strategy to be
taken to handle a particular market.
Also, with data mining, various hidden facts can be brought to the attention
which will help the business in a lot of ways. For example: If a company is
looking forward to entering a particular market segment, it would need a lot of
information such as the size of the market, the size of the market which the
company can tap, demand for that particular product in a particular area, etc.
All this can be found out by hitting the eye and mining the correct and the most
relevant data sources.
With the help of data mining, you avoid ambiguity and analyse data to extract
information which is relevant to a particular business. With data mining, the
operational costs can be brought done to a huge extent and with various
automated tools available to mine data, the manpower cost has gone down
drastically.
Data Mining Techniques

1. Statistics: Statistics deal with the collection and segmentation of data. Here,
the quantitative aspect of data is being taken care of. This is an old technique
that makes the trend analysis easy. Statistics bring various measures into the
picture like regression, correlation, etc.
2. Clustering: Clustering of data is one of the most primitive and important
steps in mining data. By this technique, the data is segregated into similar
chunks and is divided into various segments which are then analysed
independently and also compared to the other segments thus formed.
3. Visualization: The visualization of data is a very important aspect of data
mining. You can mine a lot of information from a given set of data but it is of no
use when the person for whom the information is meant for is unable to
understand it. It sanitizes the data and converts it into an understandable form
that serves the purpose of data mining.
4. Decision Tree: Here, the data is arranged in the form of a tree showing the
hierarchal and chronological relevance of different sets of data. Each branch of
the tree is a classification and the data which supports the classification. This
makes it easier for the user to make decisions and predictions.
5. Association: This technique aims at finding various links between two
different sets of data or between various classifications made in the same data
set. It establishes a relationship between various variables thus extracting
valuable information for analysis and implementation.
6. Neural Networks: This is a basic foundation step which is automated. The
user does not have to put in a lot of effort into the mining of data using neural
networks. It is easy to use.
7. Classification: This is one of the most popular techniques used in mining
data. Here, there are predefined classifications and models which classify a big
set of data. It also brings in the element of other techniques which makes the
data mining process a lot easier.
Data Mining Tool

Rapid Miner
Availability: Open source
Rapid Miner is one of the best predictive analysis systems developed by the
company with the same name as the Rapid Miner. It is written in JAVA
programming language. It provides an integrated environment for deep
learning, text mining, machine learning & predictive analysis.
The tool can be used for over a vast range of applications including for business
applications, commercial applications, training, education, research, application
development, machine learning.
Rapid Miner offers the server as both on premise & in public/private cloud
infrastructures. It has a client/server model as its base. Rapid Miner comes
with template-based frameworks that enable speedy delivery with reduced
number of errors (which are quite commonly expected in manual code writing
process).
Rapid Miner constitutes of three modules, namely
1. Rapid Miner Studio: This module is for workflow design, prototyping,
validation etc.
2. Rapid Miner Server: To operate predictive data models created in studio
3. Rapid Miner Radoop: Executes processes directly in the Hadoop cluster to
simplify
predictive analysis.

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DATA MINING AND IT’S TOOLS

Data Mining Techniques

Data Mining Tool

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