Essay - Introduction This Paper Will Present an Overview of Data Mining...

Introduction

***** paper will present an overview of data mining tools commercially available today. These tools are invaluable in helping commercial ventures, scientists, economists, medical practice *****d even weather forecasters detect patterns and data sets in vast quantities of information that they have collected.

After an overview of what is data *****, and how it ***** utilized, the focus ***** narrow to specific data mining ***** on ***** market. A description ***** characteristics and what are the leading products of the type of tool will be examined. Finally, a detailed look at a specific product, which uses neural network based ***** mining tools, will be examined in depth.

What is Data Mining

Data ***** ***** the process of seeking and extracting knowledge buried in large volumes ***** raw data. The importance of collect*****g data that reflects business or scientific activities is well recognized *****. (Brodley, Lane, Stough 1999) Most large ***** mid range companies now utilize various commercially available ***** warehousing software f***** collecting and managing ***** large quantities of information that they collect.

Before data mining technology, the bottleneck in turning ***** ***** into useful information was ***** to accurately and quickly extract knowledge from the ***** raw data.

*****nalysis by humans without special tools cannot make sense of enormous volumes of data that require processing in order to make *****formed business or scientific decisions. Data mining au*****mates the process of finding relationships and ***** in raw data and delivers results that can be ei*****r *****d in an automated decision support system or assessed ***** human analysts. (Brodley, *****, Stough)

***** the investigated system, discovering relations that connect variables in a database are the subject ***** data mining. There are many questions ***** ***** be answered if information hidden among megabytes of data in a *****base can ***** found explicitly and utilized. These questions might include:

What types of customers will most likely be responsive to upscale marketing

What is the mortality possibilities for a given popul*****tion set within a known cancer cluster region

Can one predict ***** most pr*****itable securities to buy/sell during the next trading session?

***** is the likelihood of a specific customer defaulting on a loan or repayment schedule

What medical diagnose should be assigned to this patient?

***** ***** ***** peak loads ***** a telephone ***** energy network are going to be?

Predicted market spikes in the commodities ***** ***** on observed historical weather patterns.

***** list could go on for as long ***** people can think of things to analyze and discover. Modern data mining ***** systems are self-learning. Another words the programs have the ability to learn ***** ***** previous his*****ry of the investigated system, formulation and testing hypotheses about the rules which a given ***** obeys. When concise ********** valuable knowledge ***** the system ***** interest has been discovered, it ***** be incorporated into decision ***** systems, designed to help managers or researchers make informed *****s. (Hand 1998)

Data mining is just one part of ***** process of Knowledge Discovery in