Business Intelligence

Predictive Data Mining and Discovering Hidden Values of Data Warehouse

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Executive Summary

Data Mining is an analytic process to explore data (usually large amounts of data - typically business or market related) in search of consistent patterns and/or systematic relationships between variables, and then to validate the findings by applying the detected patterns to new sets of data. The main target of data mining application is prediction. Predictive data mining is important and it has the most direct business applications in world. The paper briefly explains the process of data mining which consists of three stages: the Initial exploration, pattern identification with validation, and deployment (application of the model to new data in order to generate predictions).

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