Data miningData mining is the process of extracting and discovering patterns in large data sets involving methods at the intersection of machine learning, statistics, and database systems. Data mining is an interdisciplinary subfield of computer science and statistics with an overall goal of extracting information (with intelligent methods) from a data set and transforming the information into a comprehensible structure for further use. Data mining is the analysis step of the "knowledge discovery in databases" process, or KDD.
Demand forecastingDemand forecasting refers to the process of predicting the quantity of goods and services that will be demanded by consumers at a future point in time. More specifically, the methods of demand forecasting entail using predictive analytics to estimate customer demand in consideration of key economic conditions. This is an important tool in optimizing business profitability through efficient supply chain management. Demand forecasting methods are divided into two major categories, qualitative and quantitative methods.
Weather forecastingWeather forecasting is the application of science and technology to predict the conditions of the atmosphere for a given location and time. People have attempted to predict the weather informally for millennia and formally since the 19th century. Weather forecasts are made by collecting quantitative data about the current state of the atmosphere, land, and ocean and using meteorology to project how the atmosphere will change at a given place.
ForecastingForecasting is the process of making predictions based on past and present data. Later these can be compared (resolved) against what happens. For example, a company might estimate their revenue in the next year, then compare it against the actual results creating a variance actual analysis. Prediction is a similar but more general term. Forecasting might refer to specific formal statistical methods employing time series, cross-sectional or longitudinal data, or alternatively to less formal judgmental methods or the process of prediction and resolution itself.
Association rule learningAssociation rule learning is a rule-based machine learning method for discovering interesting relations between variables in large databases. It is intended to identify strong rules discovered in databases using some measures of interestingness. In any given transaction with a variety of items, association rules are meant to discover the rules that determine how or why certain items are connected.
Ensemble forecastingEnsemble forecasting is a method used in or within numerical weather prediction. Instead of making a single forecast of the most likely weather, a set (or ensemble) of forecasts is produced. This set of forecasts aims to give an indication of the range of possible future states of the atmosphere. Ensemble forecasting is a form of Monte Carlo analysis.
Big dataBig data primarily refers to data sets that are too large or complex to be dealt with by traditional data-processing application software. Data with many entries (rows) offer greater statistical power, while data with higher complexity (more attributes or columns) may lead to a higher false discovery rate. Though used sometimes loosely partly because of a lack of formal definition, the interpretation that seems to best describe big data is the one associated with a large body of information that we could not comprehend when used only in smaller amounts.
FAIR dataFAIR data are data which meet principles of findability, accessibility, interoperability, and reusability (FAIR). The acronym and principles were defined in a March 2016 paper in the journal Scientific Data by a consortium of scientists and organizations. The FAIR principles emphasize machine-actionability (i.e., the capacity of computational systems to find, access, interoperate, and reuse data with none or minimal human intervention) because humans increasingly rely on computational support to deal with data as a result of the increase in volume, complexity, and creation speed of data.
Economic forecastingEconomic forecasting is the process of making predictions about the economy. Forecasts can be carried out at a high level of aggregation—for example for GDP, inflation, unemployment or the fiscal deficit—or at a more disaggregated level, for specific sectors of the economy or even specific firms. Economic forecasting is a measure to find out the future prosperity of a pattern of investment and is the key activity in economic analysis.
Atmospheric modelIn atmospheric science, an atmospheric model is a mathematical model constructed around the full set of primitive, dynamical equations which govern atmospheric motions. It can supplement these equations with parameterizations for turbulent diffusion, radiation, moist processes (clouds and precipitation), heat exchange, soil, vegetation, surface water, the kinematic effects of terrain, and convection. Most atmospheric models are numerical, i.e. they discretize equations of motion.