Econometric Models and Data Mining: How they Can Be Related

Abstract

Data mining has positioned itself in the last decades as an approach with great potential for diverse data domains. One of the fields of study where data mining is of great importance is the management of knowledge at the enterprise level. In this order of ideas, this article aims towards presenting a reflection on how econometric models can be related to data mining and their application to answer questions related, for example, to how to finance small and medium-sized enterprises (SMEs) in Colombia. The analysis of variables such as SME growth, commercial bank interest rates, interest rates, and the reinvestment rate or return on equity (ROE) of the enterprise can be approached through the construction of statistical or econometric models, however, it results interesting to first review how data mining could contribute to such analysis.