data mining

Definitions

Banking

  • noun the use of advanced software to search online databases and identify statistical patterns or relationships in the data that may be commercially useful

Computing

  • noun the task of searching a database in order to find previously unknown patterns and relationships within the data it contains, e.g. searching a retailer’s database to find customers who share an interest in a particular activity

Economics

  • noun comparing two sets of data in order to find a connection between them, as by comparing the results of two unconnected companies and basing an investment strategy on them

Electronics

  • The process of analyzing data to identify relationships and patterns which may be useful. Such mining may be done manually or automatically, through the use of specialized programs. Also called mining.

Health Economics

  • (written as Data Mining)
    This has two (altogether different) meanings. The first is overusing data (especially without any theoretical expectation as to what the data might reveal) to draw invalid inferences from apparent correlations obtained by a huge amount of mere number-crunching. The second, more recent, usage is an efficient process of discovering non-obvious regularities in large databases, often using algorithms based on decision trees or networks.

Information & Library Science

  • noun the process of locating previously unknown patterns and relationships within data using a database application, e.g. finding customers with common interests in a retail establishment’s database

Media Studies

  • noun the act of searching through large quantities of data to find hidden patterns, e.g. analysing the shopping habits of a product’s customers to determine its advertising strategy
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