Data Mining Techniques and Modelling for Financial Analysis

Abstract

Data mining methods are used to identify the needs of the customers and this also helps the companies to stay competitive in the global market. Effective data mining process allows the firms to stay in the running in the competitive world by looking into the strength of the company. Data mining process has the capability of analysing financial stability and that in turn helps the companies implicate suitable policy and strategy to achieve competitive advantages. There are several types of data mining process that helps the companies to analysis their needs and allows the companies to evaluate finances. Different the types have their own approaches and advantages and helps companies to assess their finances to make concrete decision. The study has been carried out with the help of suitable methods to secure the success of the study. Qualitative methods, inductive approach and cross-sectional research design has been utilised to accomplish the study. From the assessment it is evident that despite of the advantages there are some issues that has been faced by the companies is mainly due to the large size of the data and lack of expertise of the higher authority.