Today, the term "data mining" is often used interchangeably with "analytics" (although some experts argue that data mining is a subset of analytics). It's also closely related to business intelligence and data science. Essentially, data mining involves using algorithms and models to find patterns in internal and external stores of data.
Data mining has been around for decades. Although the term is no longer as popular as it once was, in today's era of big data and machine learning, the activities traditionally associated with data mining have become more important than ever as a source for critical business insights.