Data Mining and Predictive Analytics: Things We should Care About

Data and tons of data are found at the core of any organization’s success or failure. Businesses are going with all guns to create a better position in the marketplace by understanding their customer base, making constant improvements in their operations, outperforming their competitors and what not! Now have you ever come across the term data mining? As the name implies, it is an analytic process used to explore a large amount of data in regards to consistent patterns and systematic relationships between variables. Businesses prefer data mining because it aims to predict. Predictive analyses, on the other hand, refine data resources, in particular, to extract hidden value from those newly discovered patterns.