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From: David E. Weldon, Ph.D. <David.E.Weldon@DaytonOH.ATTGIS.COM>
Subject: Re: Data Mining???
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Date: Tue, 21 Mar 1995 21:02:07 GMT
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@==========David, 3/19/95==========
@
@Anyone able to give me a concise description of 
@Data Mining and the names of popular tools that perform
@this function
@
@david@davechur.demon.co.uk
@
@Thanks
@
@David
@
Data Mining is the selection of "interesting" dependent variables from very
large scale databases and then trying to forecast the dependent variable from
a set of (potentially) arbitrary independent variables drawn from the same
data base (fishing for interesting relationships is another name for it).  As
you might guess, various least-squares techniques such as linear and
non-linear regression, univariate and multivariate analysis of variance,
factor analysis, principle components analysis, and various least-squares
clustering and multidimensional scaling algorithms are used to uncover the
relationships.  Usually the "interesting" dependent variable are various
customer buying patterns, since many companies have latched onto this
technique as a means of discovering customer preferences or perceptions.

I hope this helps a little.

