| Data mining can be technically defined as the | | | | utilities. BI uses various technologies like |
| automated extraction of hidden information | | | | data mining, scorecarding, data warehouses, |
| from large databases for predictive analysis. | | | | text mining, decision support systems, |
| In other words, it is the retrieval of useful | | | | executive information systems, management |
| information from large masses of data, which | | | | information systems and geographic |
| is also presented in an analyzed form for | | | | information systems for analyzing useful |
| specific decision-making.Data mining requires | | | | information for business decision |
| the use of mathematical algorithms and | | | | making.Business intelligence is a broader |
| statistical techniques integrated with | | | | arena of decision-making that uses data |
| software tools. The final product is an | | | | mining as one of the tools. In fact, the use |
| easy-to-use software package that can be used | | | | of data mining in BI makes the data more |
| even by non-mathematicians to effectively | | | | relevant in application. There are several |
| analyze the data they have. Data Mining is | | | | kinds of data mining: text mining, web |
| used in several applications like market | | | | mining, social networks data mining, |
| research, consumer behavior, direct | | | | relational databases, pictorial data mining, |
| marketing, bioinformatics, genetics, text | | | | audio data mining and video data mining, that |
| analysis, fraud detection, web site | | | | are all used in business intelligence |
| personalization, e-commerce, healthcare, | | | | applications.Some data mining tools used in |
| customer relationship management, financial | | | | BI are: decision trees, information gain, |
| services and telecommunications.Business | | | | probability, probability density functions, |
| intelligence data mining is used in market | | | | Gaussians, maximum likelihood estimation, |
| research, industry research, and for | | | | Gaussian Baves classification, |
| competitor analysis. It has applications in | | | | cross-validation, neural networks, |
| major industries like direct marketing, | | | | instance-based learning /case-based/ |
| e-commerce, customer relationship management, | | | | memory-based/non-parametric, regression |
| healthcare, the oil and gas industry, | | | | algorithms, Bayesian networks, Gaussian |
| scientific tests, genetics, | | | | mixture models, K-means and hierarchical |
| telecommunications, financial services and | | | | clustering, Markov models and so on. |