Data Analytics / Data Mining

Data analytics is a subset of business intelligence (BI) functionality that encompasses a wide range of mathematical, statistical, and modeling techniques with the purpose of extracting knowledge from data

Explanatory analytics focuses on discovering and explaining data characteristics and relationships based on existing data
Predictive analytics focuses on predicting future data outcomes with a high degree of accuracy

Data mining refers to analyzing massive amounts of data to uncover hidden trends, patterns, and relationships; to form computer models to simulate and explain the findings; and then to use such models to support business decision making.

Data mining focuses on the discovery and explanation stages of knowledge acquisition
Data mining consists of four general phases:
- Data preparation
- Data analysis and classification
- Knowledge acquisition
- Prognosis