Module 2 discussion.docx - 2.2 - Discussion: Data Mining...

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2.2 - Discussion: Data Mining ToolsA variety of open source data mining tools exist today that may be used by businesses as part of dataanalytics. Detailed analysis of specific data mining tools highlights several notable characteristics ofimportance as well as understanding of their potential interactions and role relative to businesses.Analysis of selected open source data mining tools first entails understanding of data mining. Data maypresent immense value in contributing valuable information, but it is highlighted that this must first beenabled through data mining. Data mining is essentially the extraction of useful information andknowledge resources from large sets of data. It is usefully for a variety of areas relative to businessessuch as analysis and management of markets, detection of fraud, as well as risk management.Furthermore, it is apparent that the information extracted via data mining may be utilized for keypurposes such as production control and retention of customer (Tutorials Point, 2017). Thus, datamining serves an important manner for firms to extract or “mine” valuable information resources forfirms. Data mining may serve functions of mining data that is descriptive in nature to understand theproperties of the data such as correlations, associations, or frequent patterns, or may center onpredictive and classifying aspects to predict data classes or distribution trends. Issues may also occurrelative to data mining, such as performance based issues, issues with methodology and userinteraction, and issues rooted in diverse data types (Tutorials Point, 2017). It is also of importance tohighlight that data mining products and applications exist in abundance and may be selected based on avariety of factors, and furthermore data mining itself presents numerous diverse trends of emergence aswell (Tutorials Point, 2017). It is thus apparent that data mining presents notable importance to firmsand can serve to extract and utilize information and knowledge resources of value.Relative to data mining, there are a variety of open source data mining tools available for utilizationrelative to businesses. Once such open source data mining tool may be highlighted as RapidMiner.Rapidminer is informed as being one of the leading open source data mining tools that are availableonline (Predictive Analytics Today, 2018). It is highlighted as a Java based integrated visual designenvironment which permits a variety of data mining functions including data visualization, data pre-processing, as well as permitting statistical modeling, and predictive analytics. RapidMiner is utilized fora variety of applications such as for business analytics and other business applications and permits therapid building of predictive analytic workflows. It also contains various functions and tools andembodies support for the entire data mining process such as validation and visualization of results(Predictive Analytics Today, 2018). Thus, Rapidminer might be used to support data mining and analysis

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Term
Fall
Professor
Ali shaykhian
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