TAILIEUCHUNG - DATA MINING IN BANKING AND FINANCE: A NOTE FOR BANKERS

Tham khảo tài liệu 'data mining in banking and finance: a note for bankers', tài chính - ngân hàng, kế toán - kiểm toán phục vụ nhu cầu học tập, nghiên cứu và làm việc hiệu quả | DATA MINING IN BANKING AND FINANCE A NOTE FOR BANKERS Rajanish Dass Indian Institute of Management Ahmedabad rajanish@. in Abstract Currently huge electronic data repositories are being maintained by banks and other financial institutions. Valuable bits of information are embedded in these data repositories. The huge size of these data sources make it impossible for a human analyst to come up with interesting information or patterns that will help in the decision making process. A number of commercial enterprises have been quick to recognize the value of this concept as a consequence of which the software market itself for data mining is expected to be in excess of 10 billion USD. This note is intended for bankers who would like to get aware of the possible applications of data mining to enhance the performance of some of their core business processes. In this note the author discusses broad areas of application like risk management portfolio management trading customer profiling and customer care where data mining techniques can be used in banks and other financial institutions to enhance their business performance. Keywords Data Mining Banks Financial Institutions Risk Management Portfolio Management Trading CRM Customer Profiling DATA MINING IN BANKING AND FINANCE A NOTE FOR BANKERS Rajanish Dass Indian Institute of Management Ahmedabad rajanish@. in As knowledge is becoming more and more synonymous to wealth creation and as a strategy plan for competing in the market place can be no better than the information on which it is based the importance of knowledge and information in today s business can never be seen as an exogenous factor to the business. Organizations and individuals having access to the right information at the right moment have greater chances of being successful in the epoch of globalization and cut-throat competition. Currently huge electronic data repositories are being maintained by banks and other financial .

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