Data Mining Business Intelligence Applications in Retail Services Using Artificial Neural Networks

Abstract

In the customer-oriented enterprise environment, data mining business intelligence (BI) performs key functions that enable business organizations to determine investment risks and estimate returns on investment. It aids in evaluating the gathered information and presenting them in an understandable and practical design that promote data mining analytics. In the current study, banking and retail services were viewed among the rapidly developing technological industry that maintains significant amounts of electronic data. On the account that fraudsters constantly come up with new schemes and refine their existing schemes so they may avoid being easily identified, it is challenging to identify fraud and prevent it from happening. In order to monitor activities relating to fraud prevention, fraud detection, customer retention, business risk management, investment performance, and improving customer satisfaction, the chapter analyzed an artificial neural network machine learning algorithm in data mining techniques and its applications in the retail sector towards service reliability.