A method and system for interpreting a dataset is described herein. The method include computing a rule set pertaining to the dataset, followed by generating a rule cover pertinent to a subset of the rule set. Further, a plurality of distances between the plurality of rule pairs in the rule cover is calculated and a distance matrix based on the calculated plurality of distances is generated. Consequently, the overlapping rules within the rule cover are clustered using the distance matrix and a representative rule from each cluster is selected. Further, at least one exception for each representative rule is determined and the dataset is interpreted using the representative rules and the at least one exception. Thereby, the method provides succinct results in terms of rules and exceptions along with multiple interpretations of the same set of transactions from the dataset, thereby providing a holistic view about the dataset.