In today’s digitized world, data is money. A fast-growing data mining company, Connecting All India (CAI) believes that most people yearn to reap the benefits of big data but are clueless when it comes to applying the right data mining technique. CAI enlists not one but five effective data mining techniques that can help you create optimal results. Take a look:
- CLASSIFICATION ANALYSIS
Classification analysis plays a vital role in the retrieval of relevant information about metadata. This technique helps in classifying the data into different classes. CAI points out that this technique is different from clustering, since here the analyst gathers the knowledge of various classes through applying algorithms.
- ASSOCIATION RULE LEARNING
Association Rule Learning helps you identify the relations between various variables used in a large database. With this technique, you can easily unravel some difficult to recognize patterns in the data. These patterns can in turn be used to detect variables within the data, along with the most frequently appearing variables.
- ANOMALY DETECTION
This data mining technique involves observing data items in a dataset that stand out from a given pattern or an expected behavior. Also known as outliers, novelties, noise, exceptions and deviations, these anomalies often provide crucial information, by depicting that something is statistically aloof from the rest of the data, and hence needs special attention. According to data mining company CAI, anomaly detection is a superb technique when it comes to domains like fraud detection, intrusion detection and fault detection.
- CLUSTERING ANALYSIS
The term ‘cluster’ refers to a collection of data objects with identifiably similar characteristics. Clustering analysis is a highly effective data mining technique, which involves discovering data clusters in such a way that the degree of association between two objects is the lowest if they do not belong to the same group and the highest otherwise. This technique works well especially for customer profiling.
- REGRESSION ANALYSIS
Data mining professionals at CAI believe that regression analysis can prove to be a highly efficient technique, if used correctly. The technique involves identifying and analyzing the relationship between the variable values. Regression analysis can help you to understand the characteristic values of dependent variable changes, in case the value of any independent variable is altered. The technique provides great results when used for predictions and forecasting.