Final answer:
The process of discovering patterns and relationships in large data sets in order to convert raw data into meaningful information is called data analysis or data mining.
Step-by-step explanation:
The process of discovering patterns and relationships in large data sets in order to convert raw data into meaningful information is called data analysis or data mining. Data analysis involves using statistical methods and algorithms to identify trends, correlations, and patterns in the data. This can be done through techniques such as data visualization, machine learning, and statistical modeling.
For example, let's say you have a large dataset of customer purchase history for an online store. By analyzing this data, you can identify patterns such as which products are frequently bought together, or which customers are more likely to make a purchase. This information can then be used to make data-driven decisions, such as improving product recommendations or targeting marketing campaigns to specific customer segments. Data analysis is an important process in various fields, including finance, marketing, healthcare, and scientific research. It helps organizations make informed decisions and gain valuable insights from their data.