| Topic : Data Mining |
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Posted in Community :
Data Mining in Finance
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Activity:
Question posted: 04 22 2008 21:44:32 +0000,
1 answers, 258 views, last activity
07 06 2010 20:18:08 +0000
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Top Answer :
Rating : +2
Data mining and day to day operations are not all that exclusive. A successful data mining project provides vital inputs as to how operations can be modified / optimized. Having said that, data mining projects can be used to develop models (based on YOUR existing cusotmers) a risk model which would assign scores to each existing customer which would indicate the probability of default. Based on this you can develop coefficients for predictors, which can be used to predict the same probablity for new customers. This is an iterative process, and should be constantly updated periodically to account for changes in your customers demographics or to capture economic dynamics within your market area.
Hope this helps.
by
Gangadhar GangaSagar, Head/VP/GM-Marketing, Amersham Pharmacia Biotech Asia Pacific Limited
| 05 06 2008 06:57:20 +0000
Found the question
"How does data mining help in controlling operational risk in banks?"
interesting?
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