06 Feb 2012

Data Mining

Predictive Analytics No Comments

Data Mining is a systematic approach where we apply algorithms for the purpose of Descriptive analytics, Predictive analytics and Decision analytics. For the descriptive analytics, we discover the patterns and relations between different data elements. For the predictive analytics, we create a score for the likelihood of the occurrence of some event. And for the decision analytics, we find the impact of the changes in the given variable.

There are some industry-wide standard algorithms, and then there are some proprietary algorithms that can be used for above three purposes.

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