Rise of Data Mining: Current and Future Application Areas

TLDR

Data mining is a knowledge‑discovery process that extracts useful information from large data repositories, driven by advances in statistics, machine learning, AI, pattern recognition, and computing, and it has become essential across business, education, medicine, and science. This paper reviews past and present breakthroughs in data mining and explores future trends.

Abstract

Knowledge has played a significant role on human activities since his development. Data mining is the process of knowledge discovery where knowledge is gained by analyzing the data store in very large repositories, which are analyzed from various perspectives and the result is summarized it into useful information. Due to the importance of extracting knowledge/information from the large data repositories, data mining has become a very important and guaranteed branch of engineering affecting human life in various spheres directly or indirectly. Advancements in Statistics, Machine Learning, Artificial Intelligence, Pattern recognition and Computation capabilities have given present day’s data mining functionality a new height. Data mining have various applications and these applications have enriched the various fields of human life including business, education, medical, scientific etc. Objective of this paper is to discuss various improvements and breakthroughs in the field of data mining from past to the present and also to explores the future trends.