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Data mining is the process of extracting valuable knowledge from complex data. This knowledge is implicit, unknown in advance, and a credible and potentially useful model. Viable in-depth analysis around data sets is becoming more and more important for decision-making in almost all areas of society: business and industry, science and engineering, medicine and biotechnology, government and individuals. The successful application of data mining in customer acquisition and retention, cross-selling, trend analysis and market prediction, fraud detection and risk prevention is encouraging.
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