| Overview | | | | patterns involved in fake transactions. |
| Data mining is the crucial process of extracting implicit | | | | The Knack |
| and possibly useful information from data. It uses | | | | There is definitely a knack to Data Mining, as there is |
| analytical and visualization techniques to explore and | | | | with any other field of web research activities. That is |
| present information in a format which is easily | | | | why it is referred as a craft rather than a science. A |
| understandable by humans. | | | | craft is the skilled practicing of an occupation. |
| Data mining is widely used in a variety of profiling | | | | One point I would like to make here is that data mining |
| practices, such as fraud detection, marketing research, | | | | solutions offers an analytical perspective into the |
| surveys and scientific discovery. | | | | performance of a company depending on the historical |
| In this article I will briefly explain some of the | | | | data but one need to consider unknown external |
| fundamentals and its applications in the real world. | | | | events and deceitful activities. On the flip side it is more |
| Herein I will not discuss related processes of any sorts, | | | | critical especially for Regulatory bodies to forecast |
| including Data Extraction and Data Structuring. | | | | such activities in advance and take necessary |
| The Effort | | | | measures to prevent such events in future. |
| Data Mining has found its application in various fields | | | | In Closing |
| such as financial institutions, health-care & | | | | There are many important niches of Web Data |
| bio-informatics, business intelligence, social networks | | | | Research that this article has not covered. But I hope |
| data research and many more. | | | | that this article will provide you a stage to drill down |
| Businesses use it to understand consumer behavior, | | | | further into this subject, if you want to do so! |
| analyze buying patterns of clients and expand its | | | | Should you have any queries, please feel free to mail |
| marketing efforts. Banks and financial institutions use it | | | | me. I would be pleased to answer each of your |
| to detect credit card frauds by recognizing the | | | | queries in detail. |