Natural Language Processing (nlp).| Business & Finance homework help
In the context of knowledge discovery, data mining techniques are employed to extract structured database information. Using algorithms, this process identifies patterns and tendencies within large data sets. These would otherwise be difficult to inspect manually. These patterns are then used to create predictions, identify anomalies, and make decision based on their findings.
A retail company, for example, may look at the purchasing habits of their customers to see which products sell best in specific locations or times. This same data can be used to target marketing campaigns, by identifying who will purchase certain items or benefit from promotional offers.
Data mining is a great way to extract insights out of data, which will improve the decision making capabilities in an organization. Since these techniques only require minimal human input, they are an effective way to quickly process large amounts of data. They could help companies stay on top of their competition by being faster to react to new opportunities.