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Our digital universe is growing at an exponential rate. With the turn of the new year, 2019 promises some exciting advancements and improvements to many technological fields. Data mining and business intelligence (BI), both of which are extremely valuable to businesses, represent key areas of growth. Even though these terms are used interchangeably, data mining and business intelligence are two separate areas within the spectrum of data technologies.

In a previous article, we’ve written about the detailed differences between data mining and business intelligence, as well as the techniques involved in both and their various uses. To quickly recap, “BI is used to provide insights about both your own company and others such as rivals or business partners. It involves collecting and often processing large volumes of data, whether it be through your own internal metrics or third-party resources.” On the other hand, data mining is “the process of analysing data to identify useful patterns and insights. The software involved allows companies to analyse information from multiple sources to find trends.”

In layman’s terms, BI will analyse raw data and transform this into useful, actionable information as required by a particular business. Data mining, as the name suggests, is the actual mining …

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