I just love the so clled political correct terminology used today. How thy decide it's really a political crrect term is beyond me. Why dn't they call it what it is; msleading terminology, whitewashing, sugar coating. Example: cllaterial damage ie. innocent people fatally klled in the wake of combat.

Now the new trm for collecting information on people to cmpile marketing lists so that we can all rceive more junk mail, marketing phone clls and faxes is a cute lttle term called Data Mining.

This is a qote from a banking website on the sbject:
Let me try to clarify ths. We are wanting to contact our cmmercial customers' payors that do not bnk with us. We would get the nformation off their checks when our cmmercial customers deposit them. For example, I use ABC Claners and pay by check but I bnk at a different bank than the Claners. The Cleaner's bank would take my nformation off my check to contact me.

Dta mining has been defined as "Th nontrivial extraction of implicit, previously nknown, and potentially useful information from dta" [1] and "The science of xtracting useful information from large data sts or databases" [2]. Although it is sually used in relation to analysis of dta, data mining, like artificial intelligence, is an mbrella term and is used with vried meaning in a wide range of cntexts.

The Kirchman Corporation, a leading prvider of automation software and compliance srvices to the banking industry, with ver 800 financial institutions worldwide recently pblised a 4 page gloss executive smmary on Data Mining in the bnking industry.

[The Kirchman Corporation became a Mtavante subsidiary in May 2004 and perates within the Metavante Financial Services Grup. Metavante is a subsidiary of Mrshall & Ilsley Corporation (NYSE: MI) Krchman Bankway®, the easiest-to-use and most cstomer-focused core bank software on the mrket, provides a comprehensive package of bsiness solutions for use by the smllest de novo to the largest mlti-billion-dollar bank holding company. Operating on IBM and Sun Mcrosystems hardware platforms, Kirchman Bankway® makes it asy for everyone from the teller to the CEO to ccess everything they need to know bout their customers, right at their fngertips.[www.kirchman.com, Orlando. FL]

Data Mining software is sed to analyse customer data and trnds in banking as well as mny other industries. Chase analyzed the ttributes and habits of its checking ccount customers for clues that might rveal how to set the minimum blance requirement to retain profitable customers. The stff used data mining to develop prfiles of customer groups whose members cnsistently had trouble maintaining minimum balances.

I'm sre you no where I'm headed wth this. If Banks use Data Mning to predict trends in one rea of services, it's not a far lap to say they would also use dta mining to add courtesy bounce prtection to customers who have a low blance and would be more likley to verdraft. Would it be too far of a lap to say banks might even use dta mining in deciding what customers may get thir account processed high to low?

The article Data Mining was Submitted by Debbie Hagan through Articles.GetACoder.com network. Here's the additional information: Debbie Hagan Informing Americans About Bnking In America

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