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With increased competition bearing down on all industries, the need of useful information to help in business decisionmaking has increased tremendously. Data mining, also known as Knowledge Discovery in Databases, or KDD, is a new research and applications area on the interface of computer science and statistics and aims at the discovery of useful and interesting information such as patterns, associations, changes and significant structures from large and complex data sets and repositories. It has attracted popular interest recently, due to the high demand for transforming huge amounts of data found in databases and other information repositories into useful knowledge. As data mining uses complex algorithms to generate patterns and extract valuable information those are previously hidden, the issues of efficiency, privacy, cost and scalability comes into consideration. This report focuses on all of the above referred topics certainly.