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Data Mining Research Paper

990 Words4 Pages

DATA MINING IN INSTITUTIONAL DEDUCTION

DATA MINING: Data mining is a process of analyzing data from different perspectives and summarizing it into useful information. Data are any facts, numbers, text that can be processed by a computer. The patterns, associations, or relationships among all collected data can provide information. Information can be converted into knowledge about historical patterns and future trends. To maximize user access and analysis there needs to be a centralization of data in a data warehouse.

EDUCATIONAL RESEARCH: Data mining tools and techniques used by computer scientists with educational social scientists. We broadly define educational social scientists …show more content…

Valuable bits of information are embedded in these data repositories. The very big size of the data sources make it impossible for a human analyst to come up with interesting information that will help in the decision making process.

Data mining techniques become important for this knowledge discovery from databases. Data mining can solving business problems in banking and finance by finding patterns, causalities and correlations in business information and market prices that are not immediately apparent to managers because the volume data is too large or is generated too quickly to screen by experts.
RISK MANAGEMENT: Management of risk is at the core of every financial institution. Today s very big deal in the banking and insurance world is therefore the implementation of risk management systems in order to identify, measure business exposure. Here credit and market risk present the central challenge one can observe a major change in the area of how to measure and deal with them based on the advent of advanced data base and data mining …show more content…

One is interested in a functional from between instrument price risk factors itself. Data mining can improve the response rates in the direct mail campaigns as the time required to classify the customers will be reduced, this in turn will increase the revenues, improves the sales force efficiency from the target group. A record of past transactions can give useful insight to the bank and different locations/branches of same branch can also follow some patterns that when noticed can be used as past records to learn from and base the future actions upon. Neural network and regression are used for this purpose. The most common data mining methods used for customer profiling

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