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Data mining is a particular data analysis technique that focuses on statistical modeling and knowledge discovery for predictive rather than purely descriptive purposes, while business intelligence covers data analysis that relies heavily on aggregation, focusing mainly on business information. [4]
For exchanging the extracted models—in particular for use in predictive analytics—the key standard is the Predictive Model Markup Language (PMML), which is an XML-based language developed by the Data Mining Group (DMG) and supported as exchange format by many data mining applications. As the name suggests, it only covers prediction models ...
A review and critique of data mining process models in 2009 called the CRISP-DM the "de facto standard for developing data mining and knowledge discovery projects." [16] Other reviews of CRISP-DM and data mining process models include Kurgan and Musilek's 2006 review, [8] and Azevedo and Santos' 2008 comparison of CRISP-DM and SEMMA. [9]
Prescriptive analytics is the third and final phase of business analytics, which also includes descriptive and predictive analytics. [2] [3] Referred to as the "final frontier of analytic capabilities", [4] prescriptive analytics entails the application of mathematical and computational sciences and suggests decision options for how to take advantage of the results of descriptive and ...
In computing, the star schema or star model is the simplest style of data mart schema and is the approach most widely used to develop data warehouses and dimensional data marts. [1] The star schema consists of one or more fact tables referencing any number of dimension tables .
The objective of these models is to assess the possibility that a unit in another sample will display the same pattern. Predictive model solutions can be considered a type of data mining technology. The models can analyze both historical and current data and generate a model in order to predict potential future outcomes. [14]