Business Analytics and Data Mining Techniques for Banking Industry

TECH7406- Business Intelligence
and Data Warehousing
Research Report
Individual Report – 1 Banking Industry

Introduction
Main objective of this project is to prepare the report to analysis the
business analytics and data mining techniques to the selected domains, here we are
chosen the banking industry and, also this report is used to review the applications
of business intelligence analytics and data mining in banking industry for decision
making contents. This project is used to enable user to understand the how business
intelligence analytics and data mining technique revolutionize business today.

Business Analytics and Data mining
Techniques for Banking Industry
 The business analytics and data mining techniques are playing an imperative role in banking
industry.
 The banking industry is a highly competitive and it is sensitive to economic and political conditions
in over the world because it has numerous risks and key strategy for many banks is to improve their
performance by increasing the revenues and reducing the costs (Biswas and Bishnu, 2015).
 Basically banking industry, the data acts a main asset of the organization since valuable interesting
and knowledge patterns are hidden in the data.
 So, the data mining is used to discover the process of analyzing the data from various perspectives
and summarizing it into the useful information which is used to increase the cuts, costs and
revenues.

Business Analytics and Data mining
Techniques for Banking Industry
The data mining techniques are listed in below.
 Association - The correlation and association is used to determine the
frequently used data items in the large data set. It is also finding the patterns
where one event is connected to another event.
 Clustering - It can be said as identification of similar classes of objects. It is
used to combining the transactions with similar behavior into customer with
same set of the transaction into one group. It is used to provide the effective
mean of unique the groups.