Introduction Data Mining for Business Analytics

What Is Business Analytics? Practice and art of bringing quantitative data on decision making Range of data analysis methods Data mining is the process of exploration and analysis, by automatic or semi-automatic means, of large quantities of data in order to discover meaningful patterns and rules. (Berry and Linoff, 1997, p. 5)

What Is Data Mining? Data mining is the process of exploration and analysis, by automatic or semi-automatic means, of large quantities of data in order to discover meaningful patterns and rules.

What Big Data? Four V’s Volume Velocity Variety Veracity

Data Science Statistics Machine learning Mathematics Programming Business IT

Terminology and Notation Differs from classical statistics e.g. Response variable is called Target See text

Data Mining Process and Techniques