What does datamining actually involve in real-world projects?

[Charles joneУчастник]

Datamining is the process of analysing huge amounts of data to find patterns, relationships, trends or unusual behaviour. A typical project involves gathering and reprocessing data, identifying relevant information and using analysis. They may be used to learn more about customers, identify fraud, predict demand or enhance processes. For example, a retailer can look at the buying trends and find «basket products» that are bought together. The techniques used can include statistical analysis, classification, clustering, and predictive modeling. This depends on the kind of data and the business query being addressed.

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