Streaming data mining is needed to analyze real-time streaming data and extract insights. Traditional batch data mining techniques are not suitable for streaming data due to limitations in processing infinite, continuous data streams with bounded memory and processing data in single passes. Streaming data mining uses techniques like Storm and Hoeffding trees that can process data streams in real-time to detect patterns, perform machine learning, and update models continuously to handle concept drift. This allows analyzing high-volume streaming data and gaining insights from it.