What is Data Mining and Analysis?
November 27th, 2017
As data harvesting grows in popularity, the terms and jargon associated with it also tend to evolve. This can cause people to ponder upon these terms and attempt to understand the real definition of the term in its context. Below, we’ve focused on the two most popular terms used in the data world: Data Mining and Data Analytics. Although you might think they’re similar, you’d be surprised to find out how different they are.
Data mining is the process of structuring raw data in order to formulate and recognize any patterns through mathematical and computational algorithms. It’s the process of generating new information and unlocking various insights through this newly discovered information.
Data is first placed into a data warehouse where its extraction is carried out in order to produce meaningful relationships and patterns.
There are two types of data mining outcomes:
• Descriptive – which gives information about existing data of the organisation in question
• Predictive – which makes forecasts based on the data collected
Data mining is a pattern discovery task in a pool of information and therefore requires classical and advanced components of artificial intelligence, pattern distribution and traditional statistics. Data mining is a process done without any preconceived hypothesis and hence, the information that is extracted from the data isn’t there to answer any specific questions of the organisation in question. Data mining also helps to explore data trends.
Data analytics involves exploring the facts extracted from data providing specific answers to specific questions. Thus, there’s a test hypothesis framework for data analytics. The techniques that are used in data analysis are the same techniques that are used in business analytics and intelligence.
To carry out robust data analysis correctly, the right tools, such as data visualisation tools are required and languages such as Python or R need to be known.
Hence, to conclude, we can see that data analytics has its roots in business analytics and business intelligence models whilst data mining makes use of more scientific and mathematical techniques to come up with patterns and trends.
At Sixteen Limited, we specialise in both data mining and data analysis ensuring that thanks to these techniques, your business will prosper.
For more information about our data mining and/or analysis services, or to find out what other services we provide at Sixteen Limited, contact us today by giving us a call on +356 20101616 or sending an email at firstname.lastname@example.org.