Next Generation of Data Mining in Finance

Abstract

With the requirement to find methods to analysis the rapidly increasing data, as a branch of computer science, data mining technique has been widely apply in different domain .One of the most enticing application areas of data mining in these emerging technologies is in finance. To complete the financial tasks, data mining technique is used refer to Stock market forecasting, Bankruptcy Prediction, Credit Risk Estimation, Corporate Performance Prediction and Management Fraud. This paper focuses on new data mining applications in finance. The fast development of Compute technology (such as Cloud Computing) and database together gives data mining a new challenge and chance in data mining of finance. How to apply the new computer and database technique to the data mining, and integrate the previous framework and the new technology together to build a more efficiency and safer framework is a long way to go in the future . Meanwhile, after accumulate enough empirical regularity and experiences, deep field-specific theories will be set up. This means, in the future, it will have more standardized and accurate model and method to apply in different domain of finance by generating more empirical regularities and combining them with domain knowledge.