The World Testifies Of Data And Our Understanding Of It Essay

1.1 Introduction (Ian, Frank Hall 2011) The world testifies to the increasing gap between the development of data and our understanding of it. Data mining is defined as the analysis of big observational data sets to establish unsuspected relationships that summarize the data in a novel, understandable and useful way to the data owner (David, Heikki Padhraic 2001). These relationships and summaries are referred to as models or patterns. Patterns comprise sets of co-occurring attribute values referred to as item sets or more complex patterns that include sequences, which consider explicit precedence relationships that are either positional or temporal, and graphs considering arbitrary relationships between points (Mohammed and Wagner 2014). Other types of additional summarised relationships include rules, clusters, tree structures among others. Lying hidden in all this data is information— potentially useful information—that is rarely made explicit or taken advantage of. Data mining activity for pattern deployment is achieved automatically or semi automatically (Ian, Frank Hall 2011). The realised patterns lead to some economic advantage. Patterns can also be expressed or as a transparent box constructed to reveal the structure of the pattern with the assumption that the realised patterns make good predictions. Data mining is used in variety of fields and applications (Galit, Stiumueli, Natin Peter 2010). This includes the military for purposes of intelligence,Show MoreRelatedThe Impact Of Physical And Mental Growth On The Young Generation Essay1025 Words   |  5 Pageseconomics and the fundamental analysis of policy from the standpoint of economic theory kindled my curiosity about Economics. 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