What is data mining?
Data mining is an analysis process that detects patterns, correlations and anomalies in data sets. Data mining then turns these discoveries into insights to forecast outcomes. Many industries utilize data mining, including banking, manufacturing and healthcare.
There are three elements of data mining
- Artificial intelligence
- Machine learning
Why is data mining important to healthcare?
Data mining is important because it can help healthcare providers analyze large amounts of data to uncover trends. Trends then inform how healthcare organizations can improve care, reduce costs, raise revenue, decrease risk and better relationships with customers.