Data Mining Applications Framework for Business

Organizations: Business Functions Approach

Jovana Zoroja, PhD, University of Zagreb, Faculty of Economics and Business, Zagreb, Croatia;
jzoroja@efzg.hr
Mirjana Pejic Bach, PhD, University of Zagreb, Faculty of Economics and Business, Zagreb, Croatia;
mpejic@efzg.hr
Katarina Curko, PhD, University of Zagreb, Faculty of Economics and Business, Zagreb, Croatia;
kcurko@efzg.hr


ABSTRACT

High growth of data in databases created a need for technologies which can extract and uncover the
hidden information in large amount of data which can be useful in decision making in business organizations.
Data mining is a technology that could solve this problem with approach combining machine learning, statistics
and database management that are used for finding useful and valid patterns in data. The goal of this paper is to
present a review of published data mining applications in business organizations across business functions.
Papers from the journals indexed in Web of Science that investigate data mining applications in business
organizations were examined in order to compare the research on data mining applications in terms of: (1)
journal, (2) title of the paper, (3) data collection approach, (4) methodology used for investigation of data mining
applications and (5) keywords. We investigated 25 papers divided into five categories: finance, human resources,
transport, marketing and sales and services. We found research papers for each mentioned category. By random
choice method we have selected several research papers for each category in order to compare data mining
applications, methods and data used in business organizations.

INTRODUCTION

Data mining methodology is used for analysing large amounts of data for secondary analysis by
extracting information from operating application systems. It can be used for finding and identifying
relationships among data (Wu et al., 2012). Data mining is one of the most popular processes of analysing huge
amount of data to find relationships among them with the goal to gain knowledge and make decisions (Ngai et
al., 2009). The main goal of data mining is to provide insight into disorganized information in order to enhance
business knowledge and future business activities for the user in business organizations. Data mining techniques
can be categorized into two groups: descriptive and predictive (Lejeune, 2001). Descriptive data mining
techniques are used for better understanding of the data, while predictive data mining techniques are used for
forecasting and devising. However, data mining is quite different compared to core statistical methodology. The
most used methods in data mining, besides statistics, are artificial intelligence and machine learning such as
classification, regression, clustering, prediction, outlier detection, visualization, decision trees, association rules,
neural networks, support vector machine and many others (Ngai et al., 2011; Strohmeier, Piazza, 2013). Data
mining techniques have a widespread use in many different areas. Continuous improvement and development of
data mining techniques and their positive influence on business activities and on competitiveness of the
companies result in their widely usage in different areas. For example, data mining techniques were investigated
in review papers in areas such as customer relation management (Wei et al., 2013), financial fraud detection
(Ngai et al., 2011), healthcare management (Zvarova, Pribik, 2002), churn management (Lejeune, 2001) and
manufacturing (Choudhary et al., 2008). However, papers that investigate data mining applications across
different business functions are rare. In this paper we investigate data mining applications in business
organizations: finance, human resources, transport, marketing and sales and services.

In order to determine how data mining and their applications have been used during the past ten years,
this paper review data mining techniques, their application and data used through a survey of literature and the
classification of articles from 2003 to 2013. This paper has two objectives. The first is to present a systematically
review of published data mining applications in business organizations based on value chain approach. The
second is to compare reviewed article through defined categories in order to generate a better understanding of
usage of data mining techniques and applications for future research.

This paper consists of five sections including Introduction part as the first one. The second section
presents the research methodology including literature selection process and analysis process. The third section


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provides given results. Section four explains our findings. The last section concludes the paper and gives some
recommendations for future work and limitations of the study.

METHODOLOGY

In the second section of the paper we describe data which we have used and how we have analysed it.
Therefore, we present the literature - selection process and the analysis process of the journal articles
incorporated in the research. Literature selection was performed in several stages. First we decided to analyse
papers from the journals indexed in Web of Science that investigate data mining applications in business
organizations. The second step was to divide areas of data mining applications into categories. We identified five
categories: finance, human resources, transport, marketing and sales and services. Scientific data base Web of
Science was searched using different phrases according to selected areas of data mining applications (e.g. data
mining applications AND finance). Through search we always used data mining applications and we changed
areas of application. The period from 2003 to 2013 was set as the time frame for the research. Only articles
published in peer-reviewed journals with full text were included in the research. By random choice method we
have selected several research papers for each category in order to compare journals, title of the papers, used
data, data mining technologies and key words. Articles that we have selected were published through the period
of nine years, from 2004 to 2013.

Table 1 shows six selected areas of application. Finance and marketing and sales had the largest number
of applications followed by transport, service, human resources management and purchasing. Figure 1 presents
the structure of area of applications.

Table 1 Area of application Figure 1 Structure of area of applications
Area of application # %
Finance 6 24
Marketing and sales 6 24
Transport 5 20
Services 4 16
Human resource management 4 16
Total 25 100
Source: Authors survey. Source: Authors survey.

At the end of the selection process we have investigated 28 articles, published in a variety of journals,
such as: Decision Support Systems, International Journal of Production Research, International Journal of
Shipping and Transport Logistics, Electronic Commerce Research and Applications, Expert Systems with
Applications, European Journal of Operational Research, Industrial Management and Data Systems, Information
Technology Management, International Journal of Man Power, Journal of Business Economics and
Management, Journal of Database Marketing and Customer Strategy Management, Knowledge Management &
E-Learning: An International Journal, Review of Quantitative Finance and Accounting.

In order to analyse papers dealing with data mining applications in the business organizations, we have
applied a research framework based on seven categories investigating: authors, journals, title of the paper, used
data, data mining technologies and key words.

RESULTS

Table 2 presents summary of the six investigated articles regarding data mining applications in finance
sector. We highlighted several key factors such as: author(s) and publishing year, name of the journals and of the
papers which we investigate, data sets that are used, data mining techniques which were applied and key words
for each article. Most of the papers were published during of the period of four years (2009-2013). Data sets
which were used are in two cases from banks and in four cases from firms. All used datasets are based on
financial information. Twelve different data mining techniques were applied in selected articles such as: artificial
neural network, classification, decision trees, discriminant analysis, k-nearest neighbour, logistic discrimination,
multiple criteria linear programming (MCLP), nave Bayes classifier, regression trees, support vector machine,
graph-theoretic measures and machine learning techniques. The most used data mining techniques are artificial
neural network and logistic discrimination (they were used in three papers) and decision trees and support vector
machine (they were used in two papers). Most of the papers have three or more key words which are mostly
similar to data mining techniques used in analysis of the data (artificial intelligence techniques, classification,
data mining, decision trees, neural networks, support vector machines).


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Table 2 Data, methodology, key words, journal and title of the papers regarding data mining applications in
finance
Study Journal Title Data Methodology Key words
Twala (2010) Expert Systems
with
Applications
Multiple Classifier Application to Credit Risk
Assessment
Four credit datasets Artificial neural
network, decision
trees, nave
Bayes classifier,
k-nearest
neighbour and
logistic
discrimination

Machine learning,
Supervised learning,
Statistical pattern
recognition,
Ensemble,
Credit risk prediction,
Noise

Ince & Aktan (2009) Journal of
Business
Economics and
Management
A Comparison of Data Mining Techniques
for Credit Scoring in Banking: A Managerial
Perspective

Credit card set
provided by Turkish
bank
Discriminant
analysis, logistic
regression, neural
networks,
classification and
regression trees
Bank lending,
Credit scoring,
Data mining,
Artificial intelligence
techniques

Virag & Nyitrai (2013) Society and
Economy
Application of Support Vector Machines on
the Basis of the First Hungarian Bankruptcy
Model
Database of the first
Hungarian
bankruptcy model
Support vector
machine
Bankruptcy prediction,
Classification,
Data preparation,
Outliers,
Support vector
machines,
ROC curve analysis

Kwak & Shi & Kou (2012) Review of
Quantitative
Finance and
Accounting
Bankruptcy Prediction for Korean Firms after
the 1997
Financial Crisis: Using a Multiple Criteria
Linear
Programming Data Mining Approach
Data sets of
bankrupt firms in
Korea
Multiple criteria
linear
programming
(MCLP)
Korean Bankruptcy
Data mining,
Multiple criteria linear
programming
Olson & Delen & Meng
(2012)
Decision
Support
Systems
Comparative Analysis of Data Mining
Methods for Bankruptcy Prediction
Data sets of 100 US
firms that
underwent
bankruptcy

Artificial neural
networks,
decision trees,
support vector
machines and
logistic
regression

Bankruptcy prediction,
Data mining,
Neural networks,
Decision trees,
Support vector
machines,
Transparency,
Transportability

Ma & Pant & Sheng (2011) Electronic
Commerce
Research and
Applications
Mining Competitor Relationships from
Online News: A Network-Based Approach
Data set consists of
eight of business
news for all
companies on
Yahoo! Finance
Graph-theoretic
measures and
machine learning
techniques
Business news,
Classification in
networked data,
Competitor discovery,
Web mining
Source: Authors survey.

Table 3 Data, methodology, key words, journal and title of the papers regarding data mining applications in
human resources management
Study Journal Title Data Methodology Key words
Kim (2012) Knowledge
Management & E-
Learning: An
International
Journal
Mining Workflow Processes
from Distributed Workflow
Enactment Event Logs
This paper proposed
the distributed
structured workflow
process mining
approaches
rediscovering a
structured workflow
process from the
distributed workflow
fragment logs

Workflow fragment of data
mining algorithm
Distributed workflow
management system,
Distributed events log,
Distributed workflow
process mining,
Workflow
fragmentation
Albrecht
(2012)
International
Journal of Man
Power
The Influence of Job, Team
and Organizational Level
Resources on Employee
Well-Being, Engagement,
Commitment and Extra-Role
Performance: Test of a
Model
Survey data obtained
from 3,437
employees of a large
multi-national
mining company
Structural equations modelling Commitment,
Organizational
behaviour,
Job resources,
Extra-role behaviour,
Engagement,
Employees behaviour,
Employee well-being

Chien &
Chen (2008)
Expert Systems
with Applications
Data mining to improve
personnel selection and
enhance human
capital: A case study in
high-technology industry
Large volumes of
personnel data
Decision tree and association
rules
Personnel selection,
Human capital,
Data mining,
Decision tree,
Semiconductor industry

Ranjan &
Malik (2007)
The Journal of
Information and
Knowledge
Management
Systems
Effective Educational
Process: A Data-Mining
Approach
Academia data set Decision trees and artificial
neural networks
Educational
administrative data
processing,
Change management,
Data handling
Source: Authors survey.



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Table 3 presents summary of the four investigated articles regarding data mining applications in human
resources management. We highlighted several key factors such as: author(s) and publishing year, name of the
journals and of the papers which we investigate, data sets that are used, data mining techniques which were
applied and key words for each article. Most of the papers were published during five years (2007-2012). All
used datasets are based on personnel information (employees of large companies or students from university). In
selected articles five different data mining techniques were used: workflow fragment of data mining algorithm,
decision tree, association rules and artificial neural networks. Most of the papers have three or more key words.

Table 4 presents summary of the five investigated articles regarding data mining applications in
transport. We highlighted several key factors such as: author(s) and publishing year, name of the journals and of
the papers which we investigate, data sets that are used, data mining techniques which were applied and key
words for each article. Most of the papers were published during the period of eight years (2004-2012). Data sets
which were used are dealing with transport (passenger train traffic in Finland, global shipping, data set of three
car brands and data of traffic count, flow, headway, occupancy, speed and density). Most of the articles used
only one data mining method: northwest corner method, row minimum cost method, column minimum cost
method and decision trees. Investigated papers have four and more key words.

Table 4 Data, methodology, key words, journal and title of the papers regarding data mining applications in
transport
Study Journal Title Data Methodology Key words
Abrahams &
Jiao & Wang
& Fan (2012)
Decision
Support
Systems
Vehicle Defect Discovery
from Social Media
The 4500 threads in
our data set were
from 3 brands
(Honda, Toyota, and
Chevrolet). The
threads were from
113 unique sub-
forums and discussed
61 unique vehicle
models and 89
different model
The vehicle defect
discovery system,
case study method
Quality management,
Social media analytics,
Business intelligence,
Text mining


Wang & Pulat
& Shen (2012)

International
Journal of
Shipping and
Transport
Logistics

Data Mining for the
Development of a Global
PortToPort Freight
Movement Database

Transport database

Data mining model

Data mining,
Data integration,
Transport database,
Global shipping,
Porttoport freight
movement,
Freight movement database,
Freight containers

Wallander &
Mkitalo
(2012)

International
Journal of
Shipping and
Transport
Logistics

Data Mining in Rail
Transport Delay Chain
Analysis

Data sets from
passenger train traffic
on the Finnish rail
network

Data mining
approach

Railways,
Rail traffic,
Delay propagation,
Primary and secondary
delays,
Data mining,
Rail transport,
Logistics services,
Transport quality,
Decision support,
Finland,
Rail timetables

Paul &
Saravanan &
Thangaiah
(2011)
International
Journal of
Advances in
Science and
Technology

Data Mining Analytics to
Minimize Logistics Cost
Data set from a large
third-party
logistic company
consists of 98,292
transactions
Northwest corner
method, minimum
cost method, row
minimum cost
method, column
minimum cost
method and
Vogels
approximation
method
Data Mining,
Transportation problem,
Linear Programming,
Object-oriented
programming

Lee & Jeng &
Chandrasekar
(2004)

Journal of the
Institution of
Engineers,
Singapore

Applying Data Mining
Techniques for
Traffic Incident Analysis

Data consist of traffic
count, flow, headway,
occupancy, speed,
and density

Cluster analysis

_________
Source: Authors survey.


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Table 5 presents summary of the six investigated articles regarding data mining applications in
marketing and sales. We highlighted several key factors such as: author(s) and publishing year, name of the
journals and of the papers which we investigate, data sets that are used, data mining techniques which were
applied and key words for each article. Most of the papers were published during of the period of six years
(2007-2013). All used datasets are based on marketing information. Data sets mostly consist of information
about customers and their shopping behaviour, suppliers, sales lists, purchasing diaries and donor contributions.
Most of the data sets consist of questionnaires filled by customers in pharmaceutical and telecommunication
industry. Twelve different data mining techniques were applied in selected articles such as: association rules,
neural network algorithm of data-mining, clustering, decision tree, frequency, immune-genetic algorithm,
logistic regression model, Money, and Contract term (FMC) model, Recency, Frequency, and Monetary (RFM)
methods and Scheffe post-test. The most used data mining techniques are decision trees (they were used in three
papers) and neural network and association rules (they were used in two papers). Most of the papers have four
and more key words.

Table 5 Data, methodology, key words, journal and title of the papers regarding data mining applications in
marketing and sales
Study Journal Title Data Methodology Key words
Sedighi &
Mokfi &
Golrizgashti
(2012)
Journal of
Database
Marketing and
Customer
Strategy
Management

Proposing a Customer
Knowledge Management
Model for Customer Value
Augmentation: A Home
Appliances Case Study
Data set consists of
29 500
questionnaires
filled by customers
Association rules Customer value,
Knowledge management,
Customer relationship
Management,
Data mining

Chuang &
Chia &
Wong
(2013)
Industrial
Management and
Data Systems
Customer Value
Assessment of
Pharmaceutical Marketing
in Taiwan
Data set consists of
data from 88
pharmaceutical
companies and
comprises product
master files,
supplier
files, lists of sales,
and purchasing
diaries
ANOVA, the Scheffe
post-test, Frequency,
Money, and Contract
term (FMC) model, data
mining and dC5.0
decision tree
Customer value,
Data mining,
Decision tree,
Pharmaceutical marketing

Olson &
Chae (2012)

Decision Support
Systems

Direct Marketing Decision
Support through Predictive
Customer Response
Modelling

Two sets of data
involving catalog
sales and
donor contributions

Recency, Frequency,
and Monetary (RFM)
methods, decision tree,
logistic regression,
neural networks

Customer response
predictive model,
Knowledge-based
marketing,
RFM,
Neural networks,
Decision tree models,
Logistic regression
Cheng &
Sun (2012)
Electronic
Commerce
Research and
Applications
Exploring Consumer
Adoption of New Services
by Analyzing the
Behaviour of 3G
Subscribers: An Empirical
Case Study
Data sets consist of
mobile users who
subscribe or use
3G application
services in Taiwan
Clustering and
association rules

3G application services,
Association rules,
Data mining,
Mobile commerce,
RFM model

van Wezel &
Potharst
(2007)

European Journal
of Operational
Research

Improved Customer
Choice Predictions Using
Ensemble Methods

Two real-life
marketing datasets

Decision trees,
ensemble versions of
decision trees and the
logistic regression
model

Bagging,
Bias/Variance
Decomposition, Boosting,
Brand Choice,
CART,
Choice Models,
Data Mining, Ensembles

Li (2012)

Journal of Digital
Information
Management

A New Customer
Classification Algorithm
for Electronic Commerce
Enterprises

Data set consists of
21 customer
classification
indicators
(customer
characteristics)

Classification algorithm,
BP neural network
algorithm of data-
mining and the immune-
genetic algorithm

BP neural network,
Customer Classification,
Electronic Commerce,
Immune Genetics
Source: Authors survey.

Table 6 presents summary of the four investigated articles regarding data mining applications in
services. We highlighted several key factors such as: author(s) and publishing year, name of the journals and of
the papers which we investigate, data sets that are used, data mining techniques which were applied and key
words for each article. Most of the papers were published during of the period of four years (2009-2013). All


6

used datasets are based on information about clients satisfaction regarding telecommunication services. Eight
different data mining techniques were applied in selected articles such as: classification, decision tree,
discriminant analysis, K-means algorithm, logistic regression, neural network, Partial least squares (PLS) and
neuro-fuzzy techniques. The most used data mining techniques are logistic regression, decision trees and neural
networks (they were used in two papers). Most of the papers have four or more key words.

Table 6 Data, methodology, key words, journal and title of the papers regarding data mining applications in
services
Study Journal Title Data Methodology Key words
Abbasimehr
& Setak &
Soroor
(2012)
International
Journal of
Production
Research
A Framework for
Identification of High-
Value Customers by
Including Social
Network Based
Variables for Churn
Prediction Using Neuro-
Fuzzy Techniques
Churn dataset
contains datasets
of mature
subscribers from a
major US
telecommunicatio
n company
K-means algorithm, two
neuro-fuzzy techniques
Data mining,
Churn prediction,
High-value
customer, Word-of-
mouth,
Neuro-fuzzy

H & Yang
(2013)

Information
Technology
Management

Classification of
Switching Intentions
toward Internet
Telephony Services: A
Quantitative Analysis

Data sets of
telecommunicatio
n services in
Korea

Discriminant analysis,
logistic regression,
classification tree, and
neural network techniques

Switching intention,
Classification
Internet telephony
service,
Telecommunication
industry

Lima &
Mues &
Baesens
(2009)

Journal of the
Operational
Research
Society

Domain Knowledge
Integration in Data
Mining Using Decision
Tables: Case Studies in
Churn Prediction

Telecom1 is a
publicly available
churn data set

The logistic regression and
decision tree models

Domain knowledge,
Data mining,
Churn,
Decision tables

Lee & Lee
& Cho &
Im & Kim
(2011)

Decision
Support
Systems

Mining Churning
Behaviours and
Developing Retention
Strategies Based on a
Partial Least Squares
(PLS) Model

Data sets by the
Teradata
171 predictor
variables of
100,000
observations

Partial least squares (PLS)

Partial least squares,
Customer
relationship
management,
Business
intelligence,
Churn management
Source: Authors survey.

DISCUSSION AND CONCLUSION

Business organizations rely on data mining techniques in organizing and using large amount of data to
maintain competitive advantage. This paper presents a review of published data mining applications in business
organizations across business functions through last ten years. According to given results their usage is
increasing during last few years.

It is not possible to find all data mining applications in business organizations by the search of scientific
data base Web of Science. However, the conducted research can give a significant view into the current
applications of data mining in business organizations. Most of the papers were published in the last years, e.g.
2012 and 2013 especially in several areas such as finance, human resource management, transport and marketing
and sales. Only three articles were published before 2009 in all areas we investigated which mean that data
mining applications in business organizations have high rate of growth and becoming interest of areas of
different researchers.

Journals which published selected papers are presented in Table 7 as well as the area of data mining
applications. It is evident that there are four journals with two or more published papers. Decision Support
Systems published four papers but in four different areas. Two papers are published in journal Electronic
Commerce Research and Applications in the area of finance and marketing and sales and two papers are
published in journal Expert Systems with Applications in the area of finance and human resource management.
Two papers are also published in International Journal of Shipping and Transport Logistics but from the same
area of research (transport). In other 15 journals one paper is published in five selected areas of data mining
applications.




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Table 7 Data, methodology, key words, journal and title of the papers regarding data mining applications in
services
Journals Number of papers (%) Area
Decision Support Systems 4 (16%)
Finance, transport, marketing and
sales and services
Electronic Commerce Research and Applications 2 (8%) Finance and marketing and sales
Expert Systems with Applications
2 (8%) Finance and human resources
management
International Journal of Shipping and Transport Logistics 2 (8%) Transport
International Journal of Production Research 1 (4%) Services
European Journal of Operational Research 1 (4%) Marketing and sales
Industrial Management and Data Systems 1 (4%) Marketing and sales
Information Technology Management 1 (4%) Services
International Journal of Advances in Science and
Technology
1 (4%)
Transport
International Journal of Man Power 1 (4%) Human resources management
Journal of Business Economics and Management 1 (4%) Finance
Journal of Database Marketing and Customer Strategy
Management
1 (4%)
Marketing and sales
Journal of Digital Information Management 1 (4%) Marketing and sales
Journal of the Institution of Engineers, Singapore 1 (4%) Transport
Journal of the Operational Research Society 1 (4%) Services
Knowledge Management & E-Learning: An International
Journal
1 (4%)
Human Resources Management
Review of Quantitative Finance and Accounting 1 (4%) Finance
Society and Economy 1 (4%) Finance
The Journal of Information and Knowledge Management
Systems
1 (4%)
Human resources management
Source: Authors survey.

To detect main data mining techniques and key words used in selected articles tag cloud analysis of data
mining techniques and keywords has been conducted (Figure 2 and Figure 3), which has become a common way
of visualising data (de Spindler et al., 2011). We used open source software Wordle (http://www.wordle.net/).

Figure 2 Key word tag cloud Figure 3 Data mining techniques word tag cloud


Source: Authors survey


Source: Authors survey

Given results indicate that the largest words are most used in selected articles. Figure 2 presents the
results of keywords tag cloud analysis with words decision, management, mining, customer, business,
bankruptcy, intelligence being the largest. Also, our analysis confirmed that main topic of articles investigated
are data mining application in the field of business.

Figure 3 presents the results of data mining techniques tag cloud analysis with words trees, mining,
regression, logistic, decision, neural, networks, algorithm, techniques being the largest. Also, our analysis
confirmed that most of the examined articles used similar data mining techniques in their analysis.

In this research we investigated only scientific data base Web of Science in search of data mining
applications in business organizations. However, many other scientific data base can be searched in some future
research regarding this topic. Also, we could extend our research by using different key words, specifying data
mining techniques and research areas. Results of these limitations should provide directions for future work.




8

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