A Study on Role of Data Mining for Customer RelationshipManagement in Banking Sector

Abstract

Data mining is one of the tasks in the process of knowledge discovery from the database. Inthe corporate world every organization is competing with the other organization in terms oftheir value towards the business and the
financial growth. Apart from execution of the businessprocesses, the creation of knowledge base and its utilization for the benefit of the organizationis becoming a strategy tool to compete. In this research, researcher discuss about the basicdetails of data mining, the use of knowledge discovery process and the new techniques from the business point of view in the banking Industry. 

The growth of the organization dependson the quality of service, competing with the other organizations, provide required informationto the customers, satisfaction of the employees working in the organization. In the bankingsector all the financial work can be done in the computers and their connectivity through WorldWide Web. The software's get automatically updated in time, use of internet banking and ATMhave made a big change in the banking sector. 

The banks have realized that their biggest asset isthe knowledge and the planning to implement the right knowledge at the right time in the right market.