What does the term "data mining" mean? 🔊
The term "data mining" means the process of analyzing large datasets to discover patterns, trends, and valuable insights. This technique combines tools from statistics, machine learning, and database systems to extract information that can inform decision-making processes. Data mining is commonly used in various fields, including marketing, finance, and healthcare, where organizations seek to glean actionable intelligence from extensive data collections. By transforming raw data into meaningful insights, businesses can enhance customer relationships, improve operational efficiency, and drive strategic initiatives.
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