Internet Data Mining Using Statistical Techniques

Abstract

Data mining has emerged as one of the hottest topics in recent years. It is an extraordinarily broad area and is growing in several directions. With the advancement of the Internet and cheap availability of powerful computers, data is flooding the market at a tremendous pace. However, the technology for navigating, exploring, visualising, and summarising large databases is still in its infancy. Internet data mining is the process of collecting, analysing, and decision making while the data is being collected on the Internet. In most of the financial applications, data is updated every second or minute or hour. By using Internet data-mining tools, a decision can be made as soon as data are updated.