Ads
related to: why do businesses need data mining equipment to produce goods
Search results
Results From The WOW.Com Content Network
In business, data mining is the analysis of historical business activities, stored as static data in data warehouse databases. The goal is to reveal hidden patterns and trends. Data mining software uses advanced pattern recognition algorithms to sift through large amounts of data to assist in discovering previously unknown strategic business ...
Industrial big data refers to a large amount of diversified time series generated at a high speed by industrial equipment, [1] known as the Internet of things. [2] The term emerged in 2012 along with the concept of "Industry 4.0”, and refers to big data”, popular in information technology marketing, in that data created by industrial equipment might hold more potential business value. [3]
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]
The ways in which data mining can be used can in some cases and contexts raise questions regarding privacy, legality, and ethics. [28] In particular, data mining government or commercial data sets for national security or law enforcement purposes, such as in the Total Information Awareness Program or in ADVISE, has raised privacy concerns. [29 ...
The outer circle in the diagram symbolizes the cyclic nature of data mining itself. A data mining process continues after a solution has been deployed. The lessons learned during the process can trigger new, often more focused business questions, and subsequent data mining processes will benefit from the experiences of previous ones.
Manufacturing writer Terry Hill has commented that manufacturing is often seen as a less "strategic" business activity than functions such as marketing and finance, and that manufacturing managers have "come late" to business strategy-making discussions, where, as a result, they make only a reactive contribution.
For premium support please call: 800-290-4726 more ways to reach us
A significant paradigm shift is the evolution from data-driven pattern mining to domain-driven actionable knowledge discovery. [4] [5] [6] Domain driven data mining is to enable the discovery and delivery of actionable knowledge and actionable insights. Domain driven data mining has attracted significant attention from both academic and industry.