Data volumes are growing dramatically by the day and every moment. While considering the fields of medical science and astronomy etc we realize that the job of looking into the data is no more like the yester years when it was possible for just human beings to interpret it. Today the sheer volume of data has made it mandatory to at least partially automate the data analysis process. New tools and methods have to be developed to help human beings from getting lost in the ever multiplying universe of digital data. To make any sense of such huge quantities of data, it needs to be made more compact and understandable.
What do the business people do with the data? In the business environment data is primarily used to,
- Gain competitive advantage
- Give better service to customers
- Increase efficiency
What is knowledge discovery in data mining? Termed only in the year 1989, KDD is the overall process of discovering knowledge from data and today data mining is actually a step in the process. Here one must emphasize that knowledge is the end product of data discovery. KDD has included new processes like, data preparation, data selection and data cleaning, incorporation of appropriate prior knowledge, and proper interpretation of the results of mining.
KDD is a term that has evolved from other related fields like machine learning, pattern recognition, statistics, AI, knowledge acquisition, data visualization, and high-performance computing. It is a very interactive process where a lot of decision has to be taken by the user.
The application areas of KDD are,
- Artificial Intelligence
- Finance / Investment
- Fraud detection
- Internet agents
Managed Outsource Solutions (MOS) is a US based company and an outsourcing leader that offers services in data entry, data mining, KDD, data extraction, data cleaning, data validation and data processing for clients in the US, Canada the UK and Australia.