The term data mining is particularly at home in the areas of big data and smart data, artificial intelligence and digital transformation. Data mining refers to methods used to extract useful information from large amounts of data. The aim is to discover correlations, patterns or trends in the often huge, confusing data sets that are not recognisable at first glance.
A simple example: an online shop collects millions of pieces of data about the purchasing behaviour of its customers every day. With data mining, the shop can find out that customers who buy product A often also find product B interesting. Based on this knowledge, the shop can make targeted recommendations - and thus increase its sales.
Data mining helps companies to make better decisions by providing facts instead of gut feelings. It is important to note that data mining is not magic, but works with mathematical and statistical processes that have been specially developed for large volumes of data. Companies that use data mining are often a decisive step ahead because they can react more quickly to changes in the market.
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