Application of Association Rule Mining in Banking Sector

Abstract

In the present age of globalization, data is considered as most important asset of an organization. But the irony of the situation is that, we are becoming data rich and information poor i.e we have collected a huge amount of data, but are not able to get the required information out of it. The organizations which will be able to convert their data into knowledge and hence will be able to use it for the decision making will rule the world. So the techniques of data mining are proving to be a boon in such context. Data mining is an emerging field and it helps to find out interesting patterns and knowledge from the large amount of data in the transactional and interpersonal database. One of the most important data mining technique is association rule mining whose main purpose is to find frequent patterns,  associations  and  relationship  between  various  database items  using  different  Algorithms.  The present paper explores the use of this technique in banking sector. The data collected from the employees of public and private sector banks has been analyzed by applying association rule mining to find the association between the educational qualifications of employee and their readiness to adopt the data mining techniques.