Data Mining
From Open Risk Manual
Definition
Data Mining is the process of analysing Data from different perspectives and summarising it into useful new information.
Technically, data mining is the process of finding correlations or patterns among dozens of fields in large relational databases (Big Data). It is commonly used in a wide range of profiling practices, such as marketing, surveillance, fraud detection and scientific discovery. For data mining to be effective it is necessary to analyse large amounts of previously collected data.
Data mining software is one of a number of tools for interrogating data. It allows users to analyse data from many different dimensions or angles, categorise it, and summarise the relationships identified.
