Data Mining and Machine Learning
The massive generation of data is changing the way that people and companies do business. In today’s increasingly digital world, the ability of extracting knowledge out of the continuous production of different types and forms of stored data in organizations, facilitates optimized and efficient decision making. Leading companies organizations are tapping into Big Data & Business Analytics by identifying, collecting, analyzing, interpreting, and transforming data to actionable knowledge and practical value. As more and more data is digitized, new sources of information and ever-cheaper equipment combine to bring us into a new era: one in which large amounts of digital information exist on virtually any topic of interest. Digital data is now everywhere in every sector , every economy and every organization. Each of us is now a walking data generator. The data available are often unstructured and not organized. Today data is considered as an strategic asset which can be used for finding solutions, proposing recommendation and even driving optimal results through its powerful and predictive characteristics.
Machine Learning is field of study that gives computers the ability to learn without being explicitly programmed. (Arthur Samuel 1959) Learning in this context is not learning by heart but recognizing complex patterns and relationship exist in data. Machine Learning can be described as methods for computers to extract knowledge directly from data or learn from data in order to form predictive models . A computer program is said to learn from experience (E) with respect to some task (T) and some performance measure (P), if its performance on (T), as measured by (P), improves with experience (E). (Tom Mitchell 1998)