Data mining is the process of discovering patterns, correlations, and anomalies within large datasets to predict outcomes. Using a range of techniques such as statistical analysis, machine learning, and database systems, data mining enables organizations to transform raw data into valuable insights. This application is widely used across various industries for purposes such as customer relationship management (CRM), fraud detection, market analysis, and decision support systems.
Benefits:
- Improved Decision Making: Provides data-driven insights for better business strategies.
- Increased Efficiency: Automates the analysis of large datasets, saving time and resources.
- Enhanced Customer Experience: Helps in understanding customer behavior and preferences.
- Risk Management: Identifies potential risks and frauds proactively.
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