Hey LinkedIn fam! 👋
Happy weekend! 🌟 This week, I continued my exploration of the captivating world of data science, data analysis, and data engineering, sharing insights chapter-wise from my latest read. 📊🔍
Let's keep the learning spirit alive! 💡 What are you currently reading or learning? Share your insights below! 👇 #DataScience #DataAnalysis #DataEngineering #LearningJourney #WeekendReads #AlwaysLearning
📘 Book Title: Data Analytics Made Accessible: by Dr. Anil K. Maheshwari
📖 Chapter Focus: Chapter 4 - "DATA MINING".
Chapter 4: Data Mining - Summary
Introduction:
Data mining extracts knowledge, insights, and patterns from organised data.
Multidisciplinary field borrowing techniques from databases, statistics, AI, and business management.
Originated in defence, evolved for business competitive advantage.
Examples:
Predictive power of data demonstrated in predicting Justice Sandra Day O’Connor’s votes.
Target Corp's pregnancy prediction model showcasing effective data mining in retail.
Data Gathering and Selection:
Data doubling every 18 months; smart mining requires selective gathering.
Enterprise data model (EDM) organizes data for data warehousing and mining.
Knowledge of business domain crucial for selecting relevant data streams.
Data Cleansing and Preparation:
Critical for success; poor quality leads to garbage in, garbage out (GIGO).
Cleansing involves deduplication, handling missing values, comparability adjustments, binning, outlier removal, and bias correction.
Labor-intensive process, taking up 60-80% of project time.
Outputs of Data Mining:
Data mining techniques yield different outputs based on objectives. Decision trees, business rules, regression equations, population centroids, and association rules are common representations. The choice depends on the nature of the problem, be it predictive modelling or exploratory analysis.
Evaluating Data Mining Results:
Supervised and unsupervised learning are primary data mining processes. Predictive accuracy is a common metric for classification techniques in supervised learning. The confusion matrix helps evaluate the accuracy of predictions. Unsupervised learning, like cluster analysis, lacks objective measures, and the value of results depends on the decision-maker.
Data Mining Techniques:
Supervised learning involves classification (e.g., decision trees), regression, and artificial neural networks. Unsupervised learning includes clustering analysis and association rules. Decision trees are popular due to simplicity, automatic variable selection, tolerance for data quality issues, and handling of non-linear relationships.
Tools and Platforms for Data Mining:
Data mining tools vary in simplicity, integration, openness, user interface, and data format compatibility. Examples include Excel, Weka, R, and IBM SPSS Modeler. Selection depends on factors like user skills, data formats, and features required.
Data Mining Best Practices:
Effective data mining requires a blend of business and technology skills. Adopting a disciplined, iterative approach helps in problem-solving. The CRISP-DM process includes steps like business understanding, data understanding, data preparation, modelling, model evaluation, dissemination, and rollout.
Myths about Data Mining:
Common myths include emphasising algorithms over problem formulation, focusing solely on predictive accuracy, assuming data warehouses are mandatory, requiring large datasets, and needing a technology expert.
Data Mining Mistakes:
Common mistakes involve selecting the wrong problem, lacking clear metadata, disorganised data mining, insufficient business knowledge, tool and dataset incompatibility, looking only at aggregated results, and not aligning with sponsor metrics.
🚀 How I'll Apply This: Excited to implement chapter-wise learnings in my current projects. The step-by-step approach is proving invaluable, and I'm eager to see the impact on data-driven decision-making! 🌐📊
📚 What's Next: Moving on to Chapter 5 next! Any recommendations from fellow data enthusiasts?
📚 "Every Sunday, I'm Unwrapping the Secrets of Data Excellence, One Chapter at a Time! 🚀
Let's keep the learning spirit alive! 💡 What are you currently reading or learning? Share your insights below! 👇
THANK YOU FOR YOUR TIME
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