POSSIBILITIES OF DATA MINING PROCESS IMPLEMENTATION IN BANKING

Expert contributions
Autor: Saša Raletić MSc, Predrag Radojević MSc

Summary: Competitive advantage and implementation of business intelligence are the most important measurement of success in modern business. Data mining is one of process which enterprises use in order to increase sale. Goal of this the paper is to describe data mining process, define its main steps and phases, and demonstrate data mining techniques that could be in use in banking for purpose of increasing quality of decision making and planning. Data mining is essentially different from similar processes, OLAP and statistical models, because it give an opportunity of interactive learning and prediction. Basic materials for data mining process are large data bases which every bank obtains. By analysis of possibility of data mining in banking sector it was found that this process can be helpful in searching for useful information in large data bases for improving business performance of the bank. Key factors for successful implementations of this process are detail planning and analyze. Data mining process in banking can be used for marketing, sale analysis and improving and risk predictions.

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