Data Mining

Data mining is the process of searching for identifiable patterns in data that can be used to predict future behavior. Although data mining can have several uses, such as combatting terrorism, games, and science and engineering, its most popular use applies to business. Data mining is often used to predict future buying patterns of customers, and can answer some of the following questions:

What kind of behavior pattern does your customer emulate?
Who are the better customers, and who are the high-risk customers?
What are customer perceptions of company products?

Applications to Accounting

• Monitoring how cash moves throughout the business
• Monitoring buying patterns of customers
• Monitoring different fund accounts
• Managerial purposes

Additional Information

What Is Data Mining?
Data Mining Techniques
Oracle Data Mining