This analysis can be used for getting more customers or clients, generating an increase in revenues compared to that of last year. Now how does this actually work? For easy and effective solutions, read on. Data Mining is currently used in fraud detection of credit card usage.
A person who uses a credit card in different places is saved and the pattern is generated using a data mining tool. When there is an exception or outlier for the credit card usage in a far off distant place, the tool will help to detect the pattern, catch the fraudulent person, and the credit card’s user is informed and his money restored.