THE EFFECTIVENESS OF DATA MINING TECHNIQUES IN BANKING

The aim of this study is to identify the extent of Data mining activities that are practiced by banks, Data mining is the ability to link structured and unstructured information with the changing rules by which people apply it. It is not a technology, but a solution that applies information technologies. Currently several industries including like banking, finance, retail, insurance, publicity, database marketing, sales predict, etc are Data Mining tools for Customer . Leading banks are using Data Mining tools for customer segmentation and benefit, credit scoring and approval, predicting payment lapse, marketing, detecting illegal transactions, etc. The Banking is realizing that it is possible to gain competitive advantage deploy data mining. This article provides the effectiveness of Data mining technique in organized Banking. It also discusses standard tasks involved in data mining; evaluate various data mining applications in different sectors