It can be predicting the winner of this fall’s baseball World Series, based on a correspondence of team statistics. It can be predicting the percentage increase in traffic deaths next year if the speed limit is raised. It can be predicting the value of a stock three months into the future. Predictions − Prediction is the same as classification, except that for prediction, the results are misrepresented in the future.Įxamples of prediction functions in business and research include − ![]() The derived model is based on the analysis of a group of training records (i.e., data objects whose class label is familiar). There are various concepts of data mining which are as follows −Ĭlassification − Classification is the procedure of discovering a model that represents and distinguishes data classes or concepts, for the objective of being able to use the model to predict the class of objects whose class label is anonymous. It is the analysis of factual datasets to discover unsuspected relationships and to summarize the records in novel methods that are both logical and helpful to the data owner. ![]() ![]() Data mining is the process of finding useful new correlations, patterns, and trends by transferring through a high amount of data saved in repositories, using pattern recognition technologies including statistical and mathematical techniques.
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