How different is data mining from statistics?
Analyzing data is estimated as a tool to mine the valuable data from a huge volume available and data mining as well as statistics are fields that work with this goal in mind. Now, it is also said that statistics can be a core aspect for data mining. Other activities involved in data mining include data analysis, as well. Now, statistics can be helpful for businesses to determine the pattern that also help to weed out the differences between some random facts from significant or important findings. It also helps businesses to predict the outcome from analysis and reports etc. Hence, you can conclude that data mining and statistics can both be adopted as data analysis techniques and can help better in arriving at more informed decisions. In the meanwhile, let’s take a look to see how similar or different they are from each other. Define data mining When you mine out relevant information from the existing huge database of earlier unknown yet comprehensible and actiona...