I’m working on a computer science discussion question and need guidance to help me understand better.
Data mining is a collection of computer technologies that analyzeinformation to discover previously unknown and potentially usefulinformation, including relationships and patterns. By applying datamining technologies you can predict future sell trends and customerbehaviors. You can identify patterns of financial fraud and terroristattacks.
Before you start the discussion, read the following reference:
- Joseph, M. V. (2013). Significance of Data Warehousing and Data Mining in Business Applications (Links to an external site.). International Journal of Soft Computing and Engineering (IJSCE), 3(1). ISSN: 2231-2307. Retrieved from http://citeseerx.ist.psu.edu/viewdoc/download?doi=…
Respond to the following:
- Explain why data mining has become so important in today’s business world.
- In the above article, the authors listed application areas of datamining technologies in business, which include government, finance,banking, and marketing. Please identify one application area and conductresearch on the Internet to find out how data mining is being studiedand applied in these areas. Please remember to put your own thoughtsand opinions on these business applications.