Data Mining is about explaining the past and predicting the future by means of data analysis. Data mining is a multi-disciplinary field which combines statistics, machine learning, artificial intelligence and database technology. The value of data mining applications is often estimated to be very high. This video below gives an overview of Data Mining.
Many businesses have stored large amounts of data over years of operation, and data mining is able to extract very valuable knowledge from this data. This video was initially published here
Image Credit: Predictive LayerCategory Technology