Data mining can be defined as:

The correct definition of data mining is the process of sorting through large data sets to extract relevant information. This is because data mining involves analyzing vast amounts of data to identify patterns, correlations, and trends that may not be immediately apparent. This process is crucial in various fields, including finance, as it helps organizations make informed decisions based on data-driven insights.

Data mining employs techniques from statistics, machine learning, and database management to discover meaningful information and predictive models within data. This allows businesses to gain a competitive edge by understanding customer behavior, forecasting market trends, and improving operational efficiency.

In contrast, the other definitions provided do not encompass the breadth of what data mining entails. Financial forecasting, sales reporting, and organizing data into databases are related processes, but they do not specifically define data mining. Financial forecasting may use data mining as a tool but does not capture the full scope of extracting insights from large data sets. Similarly, creating sales reports and organizing data are important tasks but are more about managing data rather than the analytical process that defines data mining.