An objects class is determined by the use of a

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: . Service providers can use this information to better organize their web pages. Trend Analysis Several large databases have time series data (records accumulated over time) with timestamp. For example company's sales data over several years/months, a customer's credit card transactions over a period of time, a the fluctuations in stock prices over a period of time, are all time series data. Such data can be easily analyzed find certain historical trends. The objective of trend analysis algorithms for data mining is to discover the patterns and regularities in the data evolutions along with the dimension of time. Such patterns have often been found to be very useful in making decisions for larger benefits in the future. A simple application of trend analysis algorithm may be to analyze the historical trend of fluctuations in the stock prices of various companies, to predict future behavior. Such analysis results can be effectively used by investors in the stock market for making investment decisions for better profitability. Data Mining Techniques Data mining adopts several techniques drawn from many different areas for implementing the various types of algorithms-discussed above. Some of the most popular techniques used for data mining are: 1. Statistics, 2. Machine learning, 3. Database-oriented, 4. Neural networks, 5. Fuzzy sets, and 6. Visual exploration They are briefly described below. Most data mining systems employ multiple of these techniques to deal with different kinds of data, different data mining tasks, and different application areas. Statistics Statistical methods are very useful in data mining. Usually, statistical models are built from a set of training data. An optimal model, based on a defined statistical measure, is searched among the hypothesis space. Rules, patterns, and regularities are then drawn from the model. Some of the commonly used statistical methods used in data mining are: 1. Regression analysis. It maps a set of attributes of objects to an output variable....
View Full Document

This document was uploaded on 04/07/2014.

Ask a homework question - tutors are online