What are the most used Data Mining techniques?
Classification is probably the most widely used data mining technique. Most decision making models are usually based upon classification methods. These techniques, also called classifiers, enable the categorisation of data (or entities) into pre-defined classes. The use of classification algorithms involves a training set consisting of pre-classified examples. In the tax audit domain, the two classes could be compliant filings versus non-compliant filings, and the training set would be assembled from historical audits. The classifier calibration algorithm uses the pre-classified examples to determine a set of parameters required for proper discrimination between the classes. The algorithm then encodes these parameters into a model called a classifier. Once such a classifier is calibrated, it can assign new filings to either of the classes. There are many algorithms that can be used for classification, such as decision trees, neural networks, logistic regression, etc. Using this data mi
