Intelligent financial decision support system based on data mining

2021 ◽  
pp. 1-10
Author(s):  
Chengxuan Geng ◽  
Yunkai Xu ◽  
Noura Metawa

With the development of information technology, intelligent control technology is the comprehensive application of modern management techniques and methods. This paper mainly studies the intelligent financial decision support system based on data mining. This paper mainly introduces data mining technology, an intelligent financial decision support system and the application of data mining technology in an intelligent financial decision support system. The intelligent financial decision support system proposed in this paper uses a relational database to store massive business data, to improve the system expansion ability. By using mathematical model and data mining technology, an intelligent financial decision support system can automatically analyze data, discover the internal relationship between data, and mine the model that plays an important role in prediction and decision-making behavior, to establish a new business model, help decision-makers to make marketing strategies in line with the market and make correct decisions. The experimental results show that: the actual total profit of the company in 2019 is 43.37 million yuan, and the predicted total profit in 2019 is 43.38 million yuan. The similarity between the actual total profit in 2019 and the predicted total profit in 2019 is 99.98%. In 2019, the company’s sales revenue is 37.61 million yuan. The predicted sales revenue in 2019 is 37.62 million yuan, which is 99.97% similar to the actual sales revenue in 2019. The managers of the company can make marketing strategies and make correct decisions according to the sales revenue forecast in 2020.

Author(s):  
Dr. T. Senthil Kumar

Data mining is widely used in engineering and science, On the contrary, it is used in finance and marketing applications to resolve the challenges in the respective fields. Data mining based decision support system enhances the organization performance by analysing the ground reality. Turbulent economy is common for every organization due to the competition, cost, tax pressures, etc., Privatization, Globalization and liberalization drags the organization more into a competitive environment. In order to balance the competition and withstand to achieve desired gain proper marketing strategies are need to planned and executed. Marketing decision support system helps to reduce the organization burdens in analysing and strategical planning through its efficient data mining approach. This research work proposed a data mining based decision support system using decision tree and artificial neural network as a hybrid approach to estimate the marketing strategies for an organization.


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