Expert: Saurabh Kudesia - 2/19/2005

Question
Can you tell me with simple words what is data mining.

Answer
Dear Dimitris,

Here is the simplest definition:

"Data mining is defined as an information extraction activity whose goal is to discover hidden facts contained in databases. Using a combination of machine learning, statistical analysis, modeling techniques and database technology, data mining finds patterns and subtle relationships in data and infers rules that allow the prediction of future results. Typical applications include market segmentation, customer profiling, fraud detection, evaluation of retail promotions, and credit risk analysis."

Pretty simple, isn't it??

Wishes
Saurabh