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Essay on Data Mining in Today's Business Environment
Data Mining is a conception that is taking off in the business division as a means of finding helpful information out of gigabytes of data. At the same time as products for the commercial environments are starting to develop into existing tools for a scientific environment are much rarer (or even non-existent). Nevertheless scientists have long had to search through reams of printouts and rooms full of tapes to find the gems that make up scientific detection. The advent of the computer has brought with it the facility to generate and store huge amounts of data. For instance, it is not unusual for power users to have the equivalent of three or four encyclopedias worth of data online. When you add the data generated by government and other organizations, such as the recently completed survey or the data collected every time you make a purchase at any modern supermarket, the volume of data available is almost incomprehensible. The problem is in how to turn this data into usable information. (Baird, D. C. (1962)
On the other hand, this is not a new fact. Scientists, particularly experimentalists, have long had to undertake this dilemma. At the same time as Isaac Newton may have formulated his theory of gravity when an apple fell on his head, it was still followed by hundreds, if not thousands, of experiments representing, validating and/or refining the innovative equation. Taking more modern examples, the volume of data generated by space probes and particle physics, dwarfs anything previously contemplated. Looking closer to home, scientists at ANSTO often analyze data generated over their entire working career of twenty or thirty years. Over the centuries, various methods have been developed to deal with this volume of data, many of which were seen as major steps forward for mathematics at the time....
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