An Overview on Data Mining and Data Fusion

Abstract

Strong adoption of Internet and Communication technologies across industries in the last two decades has led to large-scale digitization of business processes. While this has helped in the instant availability of information, over the period, the source and amount of this information have increased multi-fold giving rise to Big Data. With the increase in volume, the relevance of data in its raw format continues to decrease over time. According to HACE Theorem, Big Data has autonomous sources being distributed and decentralized data in a complex relationship with each other. Making sense of this ever-growing large pool of data has become increasingly difficult and has created a new problem waning the initial gains made via the digitization of systems and processes. This gave rise to the evolution of multiple Data Mining techniques that have helped to classify large volumes of data into relevant segments and drive value to help provide meaningful information. To extract and discover knowledge from data, Knowledge Discovering Databases (KDD) help in the refining of data. This paper discusses various data mining techniques that help to identify patterns and relationships to help make business decisions using data analysis. Furthermore, the Data Fusion method is reviewed which deals with joint analysis of multiple inter-related datasets providing multiple complementary views to help further with precise decision-making.