Book Image

Mastering Python for Data Science

By : Samir Madhavan
Book Image

Mastering Python for Data Science

By: Samir Madhavan

Overview of this book

Table of Contents (19 chapters)
Mastering Python for Data Science
Credits
About the Author
About the Reviewers
www.PacktPub.com
Preface
7
Estimating the Likelihood of Events
Index

What is data mining?


Data mining is the process of exploring data and finding patterns in it using machine learning, statistics, and database systems. The end goal of data mining is to derive useful information from data, which can be utilized to increase revenue, reduce costs, or even save lives through some of its applications.

When you have a dataset that needs to be mined, it is not feasible to use all the data-mining techniques that are available on every column field of the data to derive insights. This will be a cumbersome task and will take a long time to derive any useful insights.

To speed up the process of mining data, knowledge of domains is a great help. With this knowledge, one can understand what the data represents and how to analyze it to gain insights.

The best way to start data mining is to derive themes on which the data needs to be mined. If you have the sales data of a Fast Moving Consumer Goods (FMCG) company, then themes could be as follows:

  • Brand behavior

  • Outlet behavior...