Data Warehousing and Data Mining

Key Features:

1. Data Warehouse:

The key features of a Data Warehouse are discussed below:

1. Subject Oriented: A data warehouse is subject oriented as it provides knowledge around a subject rather than the organization’s ongoing operations. These subjects can be a product, customers, suppliers, sales, revenue, etc. A data warehouse focuses on modeling and analysis of data for decision making.
2. Integrated: A data warehouse is constructed by combining data from heterogeneous sources such as relational databases, flat files, etc.
3. Time-Variant: The data present in data warehouse provides information with respect to a particular time period.
4. Non-volatile: Non-volatile means, data once entered into the warehouse should not change.

Benefits of Data Warehouse:

1. Consistent and quality data
2. Cost reduction
3. More timely data access
4. Improved performance and productivity

Data Mining:

The key features of Data mining are discussed below:

1. Automatic discovery of patterns
2. Prediction of likely outcomes
3. Creation of actionable information
4. Focus on large data sets and databases

Benefits of data mining:

1. Direct marketing: The ability to predict who is most likely to be interested in what products
2. Trend analysis: Understanding trends in the marketplace is a strategic advantage because it helps reduce costs and timeliness to market.
3. Fraud detection: Data mining techniques can help discover which insurance claims, cellular phone calls or credit card purchases are likely to be fraudulent.
4. Forecasting in financial markets: Data mining techniques are extensively used to help model financial markets.