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Monday, April 14, 2014


The concept of Data Mining is becoming increasingly popular as a business information management tool where it is expected to reveal knowledge structures that can guide decisions in conditions of limited certainty.
                  Data Mining is more oriented towards applications than the basic nature of the underlying phenomena. For example, uncovering the nature of the underlying functions or the specific types of interactive, multivariate dependencies between variables are not the main goal of Data Mining. Instead,

the focus is on producing a solution that can generate useful prediction Therefore, Data Mining accepts among others a "black box" approach to data exploration or knowledge discovery and uses not only the traditional Exploratory Data Analysis (EDA) techniques, but also such techniques as Neural Networks which can generate valid predictions but are not capable of identifying the specific nature of the interrelations between the variables on which the predictions are based. 

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