Scope of Data Mining: Uncovering Hidden Insights in the Age of Big Data
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Introduction The Data Explosion In today’s data-driven world, Organizations are inundated with vast amounts of data but struggle to extract meaningful insights that can drive business success. With the exponential growth of big data, the amount of information generated every day is staggering—over 2.5 quintillion bytes of data are created daily, equivalent to 500 million hours of Netflix streaming. With this overwhelming influx of data, businesses require efficient methods to extract valuable insights, make informed decisions, and stay ahead of the competition. This is where data mining becomes an essential tool. What is Data Mining? Data mining is the use of machine learning and statistical analysis to uncover patterns and valuable information from large datasets. Also known as knowledge discovery in databases (KDD), data mining has accelerated over the past decade due to advancements in: Machine Learning (ML ): Automates model training for accurate predictions. Data Warehousing...