COMP3340 - Data Mining in Business Article

1Data Mining
Data Mining
Student Name
University Name

2Data Mining
Table of Content
Part 1..............................................................................................................................3
Data Mining is utilized in Business........................................................................3
Summary of Article................................................................................................4
Part 2..............................................................................................................................5
Leading ethical, security, and privacy implications in DM...................................5
Implications are significant for the Business Sector..............................................7
References......................................................................................................................9

3Data Mining
Part 1
Data Mining is utilized in Business
Over the previous years, Information Mining and Data Mining (DM) has turned into a
matter that is of extensive significance because of the huge amount of information or
data accessible in the different applications which belongs to different domains. DM,
is used in business enterprises as it is a dynamic and a quick extending field that
simply applies propelled data examination strategies, from machine learning,
statistics, database frameworks or AI to easily find out the significant examples,
relations and patterns contained in the data, and the data that is difficult to observe by
utilizing different systems. DM in business perspective is characterized as a business
procedure for investigating a lot of information or data to find meaningful rules and
patterns. Business organizations can apply DM with a specific end goal to enhance
their business as well as gain advantages over their competitors (Wang & Wang,
2014). On the other hand, DM tools are monetarily or commercially accessible to
execute different data mining procedures for performing propelled data examination
on substantial volumes of information (Tasioulas, 2016). To move simply from
quality control management to quality certainty and to decrease the error occurrence,
business enterprises need to utilize their active knowledge and former experiences
more viably. Data mining investigation or analysis offers several potential profits in
this specific context. The DM can also help to achieve competitive improvements,
such as, increasing or improving the product quality and reducing the production cost
or time (Żytkow & Rauch, 2014).