Data mining is concerned with developing techniques to assist managers to make intelligent decisions based on data mining results. Data mining is extensively applied in credit rating, fraud detection, database marketing, customer relationship management, and stock market investments, to mention a few. The field of data mining has evolved from the disciplines of statistics and artificial intelligence. Data mining results are also applied in the forecasting and in recognizing patterns. Data mining includes also data cleaning, integration, reduction and transformation, techniques in the processing of discovering knowledge within data, data warehousing, pattern recognition, discretization and the concept of hierarchy generation.
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