As the technology leads the whole world, companies must adapt to the newest technology in order to get a better performance and results. Plenty of companies were enforced to exit the market due to failing in applying latest technology because of the difficulties they faced and lacks of knowledge. However, the continuity of applying technology results in massive databases with a lot of information. To get benefit from those big data, technology introduced a method called data mining which considered to a field under computer science major. Data mining (DM) can be defined as extraction and analysis of huge data to get a beneficial information that can be used in decision making and prediction. In addition, data mining has several techniques such as; Association, classification, clustering, decision tree and prediction. DM is applied in very important fields such health, customer relation, accounting, and banking. This paper illustrates the application, opportunities, and challenges of applying data mining in accounting and banking.
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