Article Details

A Study on Financial Frauds In Organizations |

Rekha Kumari, in Journal of Advances and Scholarly Researches in Allied Education | Multidisciplinary Academic Research


Data mining is able to uncover unknown patterns andpredict future trends and behaviors in financial markets. It createsopportunities for companies to make proactive and knowledge-driven decisions inorder to gain a competitive advantage. Data mining has been applied to a numberof financial applications, including development of trading models, investmentselection, loan assessment, portfolio optimization, fraud detection, bankruptcyprediction, real-estate assessment, and so on. The competitive advantagesachieved by data mining include increased revenue, reduced cost, and muchimproved marketplace responsiveness and awareness.