Data Mining Business

Historically, various statistical techniques have been used to extract useful knowledge from data during development of data analysis. These techniques did not however require the computing power which is required today (Andronie & Crisan, 2010). The changing applications in business have therefore demanded the use of Business Intelligence (BI). Business Intelligence is a field that provides software tools that are tailor made for end-business users to deliver business insights at the right time during decision making processes (Folorunso et al, 2010). Business intelligence is however faced by shortage of experts and analysts who are expected to run and configure analytical software. As one of the BI techniques, the first data mining model was derived from statistical methods (classical techniques) including cluster and statistical analysis which are used even today.