Several data analysis techniques exist encompassing various domains such as business, science, social science, etc. with a variety of names. The major data analysis approaches are −
- Data Mining
- Business Intelligence
- Statistical Analysis
- Predictive Analytics
- Text Analytics
Data Mining is the analysis of large quantities of data to extract previously unknown, interesting patterns of data, unusual data and the dependencies. Note that the goal is the extraction of patterns and knowledge from large amounts of data and not the extraction of data itself.
Data mining analysis involves computer science methods at the intersection of the artificial intelligence, machine learning, statistics, and database systems.
The patterns obtained from data mining can be considered as a summary of the input data that can be used in further analysis or to obtain more accurate prediction results by a decision support system