Predictive Data Minining Model Intro
Knowledge discovery involves finding interesting patterns from data stored in large databases through use of computer analysis.
Interesting implies non-trivial, implicit, previously unknown, easily understood, useful and actionable knowledge.
Information is defined as the pattersn, correlations, rules, or relationships in data providing knowledge useful in decision making.
Descriptive analytics
- reports of what has happened. Statistics are big part of that.
Predictive analytics
- extend statistical and/or aritifical intelligence to provide forecasting capability.
Diagnostic analytics
- apply analysis to sensor input to direct control systems automatically
Data mining includes descriptive and predictive modeling. Operations research includes all three.