Abstract

The rise of economic globalization and evolution of information technology, financial data are being generated and accumulated at an extraordinary speed. As a result, there has been a critical need for automated approaches to effective and efficient utilization of massive amount of financial data to support companies and individuals in strategic planning and investment decision-making. The competitive advantages achieved by data mining include increased revenue, reduced cost, and much improved marketplace responsiveness and awareness. There has been a large body of research and practice focusing on exploring data mining techniques to solve financial problems. This paper describes data mining in the context of financial application from both technical and application perspective by comparing different data mining techniques.