Data Mining also known as data discovery and knowledge discovery is the process of researching and analyzing huge data sets in order to find patterns and/or relationships.
The idea behind data mining is to find and extract previously unknown and somehow useful information from a given data set.
Data Mining is utilized in many different industries. Data Mining is frequently used to analyze sales data in retails stores. The retail stores are trying to identify buying trends by using data mining. For example if certain customer has bought several video games over a period of time, then it is likely that this customer is interested in gaming and he will buy more games in the feature. Data Mining can identify trends like this and can significantly improve the sales, allowing the sales department to target its sales efforts for each particular customer.
Many software companies produce data mining software for Text Analysis, Text Mining, Visualization, and Information Retrieval.