Data Mining In Banking Sector

M.Preethi Assistant professor, Department of Computer Science Madurai Sivakasi Nadars Pioneer Meenakshi Women’s College, Poovanthi Email:[email protected] M.Vijayalakshmi Assistant professor, Department of Computer Science Nadar Mahajana Sangam Sermathai Vasan College for Women, Madurai Email : [email protected] -------------------------------------------------------------------ABSTRACT--------------------------------------------------------------Data Mining plays an imperative role in many organizations. It is helpful in scrutinizing the collected data and delivering it into an understandable pattern. In the present scenario, banking is an emerging sector where large volumes of electronic data are being maintained. The important task in banking is handling huge transactional data and making decisions regarding customer retention, fraud detection and prevention, risk and marketing management. But making decisions by manual is time consuming and error prone. To process these data in an effective manner, data mining techniques and methods are pertinent. By using these techniques several interesting patterns and knowledge base can be retrieved. This article analyzes the various data mining techniques and concepts that can be applied to banking sector to enhance its performance.