This is an important distinction because much of the interest that has been driving the uptake of large-scale data mining technology is in many of the same kinds of applications that are poorly served by the existing technology. It is in many ways a self-limiting resurgence. Much of the interest in data mining technologies is contextual targeting and preference modeling, which to do well on a large scale require overcoming the Achille's Heels of current data mining technology, poor real-time analytic performance and inadequate support for high-dimensionality data models.
In other words, the "renaissance" is that expensive data mining technologies are becoming less expensive over time, which is not exactly a remarkable observation in the technology industry. Unfortunately, what is really needed is data mining technologies that are better. I fully expect we will get these better technologies sooner rather than later, after all that is my business, but when that happens it will look more like a revolution than a renaissance as it will enable capabilities that are currently unavailable at any price.