Business Analytics and Data Mining Techniques for Banking Industry

University
Semester
TECH7406- Business Intelligence and Data
Warehousing
Research Report
Individual Report – 1 Banking Industry
Student ID
Student Name
Submission Date
1

Table of Contents
Introduction...........................................................................................................................................3
Business Analytics and Data mining Techniques for Banking Industry................................................3
Applications of the Banking Industry....................................................................................................4
Business Opportunities..........................................................................................................................5
Challenges.............................................................................................................................................5
Conclusion.............................................................................................................................................6
References.............................................................................................................................................6
2

Introduction
The 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 have chosen the
banking industry and, also this report is used to review the applications of business
intelligence analytics and data mining in the same industry for decision making. This project
is used to enable users to understand how business intelligence analytics and data mining
technique revolutionize business today.
In this project, the focus is on the following aspects:
 Business analytics and data mining techniques
 Applications of the banking industry.
 Generation of new opportunities for the respective industry.
 Analysis of challenges associated with the application of business
analytics and data mining techniques.
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 sector is extremely competitive, then it is sensitive to
economic and political situations throughout the world, because it has numerous risks and
key strategies for various banks in order to improve their performance, including 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, including knowledge
patterns are hidden. Thus, the data mining is used to discover the process of data analysis
from various perspectives and summarizing it into beneficial information which is utilized for
increasing the costs and revenues. It involves the below processes like:
 Data cleaning
 Data pre - processing
 Data transformation
 Data integration
 Data mining
 Data presentation
 Pattern evaluation
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