The process of using sophisticated statistical techniques to extract and analyze data from large databases to discern patterns and trends that were not previously known is called what?

data mining

Explanation:

In an ever-increasing complex world where we constantly need to deal with new sources of data and make the best decision, data mining turns a powerful method for managing this situation.

Data mining is the method of analyzing big amounts of information and finding new relationships, new patterns and ultimately a better insight,

Data mining is employed by a business to discover the patterns and relationships in data so they can have elements for better decision making.

Some data mining can result in showing sales trends, creating a successful marketing campaign and giving customer service of quality.

When mining data, we find patterns in large databases that include methods drawing from statistical analysis and use of database systems.

Another way to refer to this process is called "knowledge discovery in databases or KDD for short.

The image shows the process applied to Business:

a.indigo and cochineal

b.animal hides

c.silver and gold

e.cacao beans and sugarcane