Fundamentally, data mining is about processing data and identifying patterns and trends in that information so that you can decide or judge. Data mining principles have been around for many years, but, with the advent of big data, it is even more prevalent. Big data caused an explosion in the use of more extensive data … Continue reading Data mining as a process.
A time series is a sequence of numerical data points in successive order. In investing, a time series tracks the movement of the chosen data points, such as a security’s price, over a specified period of time with data points recorded at regular intervals. There is no minimum or maximum amount of time that must … Continue reading What Is Time Series?
A Time Series is an ordered sequence of data points. Typically it's measured at successive times spaced at uniform time intervals. Examples of time series are the annual flow volume of the Nile River at Aswan or the daily value of a stock market index. Time Series of the German Stock Index (DAX) from January … Continue reading What Is Time Series Analysis?
1) Clustering Algorithm in Identifying Cancerous Data Clustering algorithm can be used in identifying the cancerous data set. Initially we take known samples of cancerous and non cancerous data set. Label both the samples data set. We then randomly mix both samples and apply different clustering algorithms into the mixed samples data set (this is known as … Continue reading Application Of Clustering Algorithm.
Cluster is a group of objects that belongs to the same class. In other words, similar objects are grouped in one cluster and dissimilar objects are grouped in another cluster. Clustering is the process of making a group of abstract objects into classes of similar objects. Points to Remember A cluster of data objects can … Continue reading What Is Clustering?
One of the reasons behind maintaining any database is to enable the user to find interesting patterns and trends in the data. For example, in a supermarket, the user can figure out which items are being sold most frequently. But this is not the only type of `trend' which one can possibly think of. The … Continue reading What Is Association Rule Of Data Mining?
Transactional data is information recorded from transactions and can be financial or work-related. Retailers capturing information on customers purchasing habits have valuable transactional data which allows them to cater to the whims of their customers. For instance, point-of-sale transactional data allows a retailer to glean shopping-behaviour data during certain weather conditions.
Data cleaning involves the detection and removal (or correction) of errors and inconsistencies in a data set or database due to the corruption or inaccurate entry of the data. Incomplete, inaccurate or irrelevant data is identified and then either replaced, modified or deleted. Incorrect or inconsistent data can create a number of problems which … Continue reading Explain Data Cleaning in detail.
Business Analysis Framework The business analyst get the information from the data warehouses to measure the performance and make critical adjustments in order to win over other business holders in the market. Having a data warehouse offers the following advantages: Since a data warehouse can gather information quickly and efficiently, it can enhance business productivity. … Continue reading Architecture Of Data Warehousing.
A database is designed to coherently store and conduct operations on related information. Modern databases are able to support operations on information stores while prioritizing the integrity of the data stored. Every operation or transaction contains a minimum of one independent unit of work which can include reading or writing information to the data store. … Continue reading What is the Purpose of a Database?