Evolving the Science of Data Mining: Challenges, Applications, and Future
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Usama Fayyad, Ph.D.
President, DMX Group
Data Mining has received much attention as companies and organizations
started to ask how they can better utilize the huge data stores they built
up over the past few decades. While some interesting progress has been
achieved over the past few years, especially when it comes to techniques and
scalable algorithms, very few organizations have managed to benefit from the
technology. This paradoxical situation of having too much data yet not be
able to utilize it or mine it arose because of both technical and business
challenges. We will cover these challenges, paint a picture for where the
data problems are, and then introduce data mining and its role.
The coverage of data mining will be at multiple levels: a few algorithms for
scaling to large databases, aspects and challenges for fitting data mining
with database systems, and finally business challenges of how to make the
technology really work. In this coverage, we will span the spectrum from
technical to business issues. We shall also cover applications in the
business setting to illustrate the challenges and contributions of data
mining in the business world in addition to the fundamental research
problems that need to be addressed. We conclude by revisiting the technical
challenges facing the field.
Usama Fayyad is President & CEO of DMX Group, a data mining services firm
that delivers advanced predictive and strategic data applications to some of
the world's largest organizations. He is also Chairman of digiMine, Inc.
(now Revenue Science Inc.) which he co-founded in early 2000 and served as
its President and CEO until 2003.