Data Mining: Sorting through data to identify patterns and establish relationships. Data mining parameters include Association - looking for patterns where one event is connected to another event., Sequence or path analysis - looking for patterns where one event leads to another later event. , Classification - looking for new patterns (May result in a change in the way the data is organized but that's ok). , Clustering - finding and visually documenting groups of facts not previously known. , Forecasting - discovering patterns in data that can lead to reasonable predictions about the future.

 

Related Words

Data Mining: Sorting through data to identify patterns and establish relationships. Data mining parameters include Association - looking for patterns where one event is connected to another event., Seque . . . View Full Definition

Infrared Data Association (IrDA): A membership organization founded in 1993 and dedicated to developing standards for wireless, infrared transmission systems between computers. With IrDA ports, a laptop or PDA can exchange d . . . View Full Definition

Intelligent Roaming Database (IRDB): A list of acceptable and unacceptable networks for a phone to roam with stored either on a SIM card or in the phone.

Market-Data Approach: Estimating a propertys value based on a comparison of the property with similar properties in the same locale that have sold recently. Also known as the direct sales comparison approach.