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