Prev
From:
SmartData Collective, February 14, 2011 by Meta S. Brown
Once, the term "data mining" was only used to describe a specific new culture of business people using innovative methods of uncovering useful patterns in data. The tools of the data miner were quite distinct from those of the traditionally trained analyst. When you heard "data mining," you could be sure of knowing what it meant.
...
It's time to revive and embrace the true essence of data mining - enabling people with business knowledge to discover useful patterns in data, extracting information that they can use to understand, influence and improve business processes. The heart of the data mining philosophy has been expressed best by a pioneer of data mining, Tom Khabaza, in his now classic "9 Laws of Data Mining."
1st Law of Data Mining, or "Business Goals Law": Business objectives are the origin of every data mining solution ...
2nd Law of Data Mining, or "Business Knowledge Law": Business Knowledge is central to every step of the data mining process ...
3rd Law of Data Mining or "Data Preparation Law": Data preparation is more than half of every data mining process ...
4th Law of Data Mining, "NFL-DM": The right model for a given application can only be discovered by experiment ...
5th Law of Data Mining, or "Watkins' Law": There are always patterns ...
6th Law of Data Mining: Data mining amplifies perception in the business domain ...
7th Law of Data Mining or "Prediction Law": Prediction increases information locally by generalization ...
8th Law of Data Mining, or "Value Law": The value of data mining results is not determined by the accuracy or stability of predictive models ...
9th Law of Data Mining, or "Law of Change": All patterns are subject to change ...
Read more.