Explanation:
Data mining helps banks work with credit ratings and anti-fraud systems, analyzing customer financial data, purchasing transactions, and card transactions. Data mining also helps banks better understand their customers' online habits and preferences, which helps when designing a new marketing campaign.
Data mining software is extremely beneficial to businesses since it aids in the discovery of hidden patterns for personal use. These patterns aid in the improvement of commercial connections since they are used in data analysis and forecasting, which expands company potential.
Data mining can help businesses extract more value from that critical company asset. The knowledge gained through data mining can become actionable information a business can use to improve marketing, predict buying trends, detect fraud, filter emails, manage risk, increase sales and improve customer relations.
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