What are advantages of data mining?
data mining advantages:
Do you think the advantages of data mining are superior to the disadvantages?
Several advantages. It allows:
- managers to use "yet another power-word"
- IT departments to spend time&money on equipment, software, subscriptions, and staffing
- companies to set-up whole new teams
- fancy chapters in year-reports, on facebook, everywhere
- Information-scientists to publish tons of articles
- much more
oh, and sometimes - if handled in the correct context - it may provide insights that would otherwise be missed.
Data mining techniques are indeed very useful. From my point of view, it is all about transforming raw data into knowledge by applying supervised and unsupervised learning methods. Then comes the ability to deliver the knowledge (tell the story) to various stakeholders (technical and non-technical).
I think that there are some challenges rather than disadvantages. Some of these challenges are:
- The lack of open source datasets.
- Space and time limitations when dealing with massive datasets
- No quality control on the data mining project phases (collecting, preprocessing, building models, testing models, visualization)
- The lack of labeled datasets for classification techniques.
Pros:
- Great Analytical Tool.
- Significant Pattern Generation.
- Flaw Detection.
Cons
- Privacy Issues.
- Expensive.
- Risk of Misuse of Information.
If you want to get more details, follow this link...
http://visionlaunch.com/pros-and-cons-of-data-mining/
Please take a look at this RG link.
Article The benefits of data mining
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