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1.2.2 Applications of Data Mining
ОглавлениеFraud Detection◦ Data mining identifies patterns, i.e., user-specific patterns, and builds a model based on valid and invalid states. Using data mining techniques, one can classify records based on fraudulent and non-fraudulent patterns [14].
Marketing Analysis◦ It is based on Association mining, i.e., identifying user’s preferences. With such techniques, one can identify purchasing habits of the users. Using this technique, one can compare different items, pricing of the items, etc. [13].
Customer Relationship Management◦ Every organization is keenly observing and maintains this segment which is popularly known as CRM. In this segment, one can distinguish users/customers based on loyalty towards the organization. User’s/Customer’s data can be collected and analyzed to get desired results [13].
Banking and Finance◦ The banking and finance sector holds huge data related to clients. Banking and financial software systems help different managers to identify the correct client segment, loyal clients. These software systems process ‘n’ transactions which a person cannot handle manually. Such soft-ware systems stores process a large volume of data and produce desired results less time [13].
Healthcare Industries◦ Everyone concerns about health. Different parameters and values help the health care professionals to diagnose the disease. The number of patients, diseases and symptoms can be processed to get an accurate prediction. Software systems used in the health care industry process a large chunk of observed values and compare them with the stored patterns to draw an accurate conclusion [13].
Educational Purpose◦ Using data mining, one can identify the student’s interests in different fields. It also helps in improving teaching methodology with new trends [13].
Crime Investigation◦ Data mining helps in identifying different patterns applied in other crimes. Crimes, criminals, and their crime characteristics are analyzed under this category. A large volume of (stored data) can be processed to identify different relationships with criminals. In this category, face recognition, fingerprint recognition, etc., are considered and used in the investigation [14].