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The Sydney Morning Herald reports on the rise of advanced data mining techniques. One technology entrepreneur said places like Silicon Valley are “Big Data mad,” adding, “Industries like banking, insurance and increasingly pharmaceuticals are competing on the back of predictive models that get built” by mining data. In addition to improving day-to-day business operations, data mining helps construct predictive models for consumer behavior, the report states, and the call for young professionals to build these models is growing.
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