Business Analytics for Banking

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Predictive analytics has become extremely important to all business domains, especially in the financial and the banking sector. Data analytics of financial data can provide analysis and understanding of what happened in the past, and, by taking advantage of the identified schemes and trends, it could predict the future as accurately as possible.In order to discover the set of critical success factors that will help banks reach their strategic goals, financial managers need to move beyond standard business reporting and sales forecasting. By applying data mining and predictive analytics to extract actionable intelligent insights and quantifiable predictions, banks can gain insights that encompass all types of customer behavior, including channel transactions, account opening and closing, default, fraud and customer churn.