Data Mining & KDD

Why It Was Important

Knowledge Discovery in Databases (KDD) emerged as companies digitized their records but realized they couldn't analyze them manually. Integrating statistics, machine learning, and database systems, data mining algorithms became massively profitable for retail (market basket analysis) and finance, normalizing algorithmic prediction in business.

Who Invented It

Various academics & industry analysts

Statisticians and database engineers.

Applications

• Targeted Marketing
• Fraud Detection
• Recommender Systems