What the Future Holds for Data Mining

Abstract

Predicting the future is always a difficult task, of course that depends on how far into the future one attempts to delve. With regard to data mining, there’s no doubt the future should entail some interesting new applications that seek to enhance the process of discovering patterns and relationships existing between variables underpinning a given business application. This chapter seeks to enlighten the reader with regards to “what’s in the pipeline” for the coming years in the world of data mining. This topic can be broken down into two major components which include: 1) Innovations in statistics and algorithms that will provide new revelations to the world of mining. 2) Innovations in overall information technology that will augment the current functionality of mining methodology. This chapter will emphasize the second point mentioned above as the area for the greatest potential for mining enhancements over the next year or so.