The following information was submitted:
Transactions: WSEAS TRANSACTIONS ON BUSINESS AND ECONOMICS
Transactions ID Number: 29-174
Full Name: Zahid Ullah
Position: Researcher
Age: ON
Sex: Male
Address: King Saud University
Country: SAUDI ARABIA
Tel: 00966-543807381
Tel prefix:
Fax:
E-mail address: zahidullah45@yahoo.com
Other E-mails: zahidullah45@gmail.com
Title of the Paper: Data Mining Strategies and Methods to Develop Microfinance Market - Use Case Currency Exchange
Authors as they appear in the Paper: Hameed Ullah Khan, Zahid Ullah, Maqsood Mahmud
Email addresses of all the authors: hukhanafridi@yahoo.com, zahid@ksu.edu.sa, maqsood@ksu.edu.sa
Number of paper pages: 10
Abstract: The intrinsic characteristics of data mining are being inculcated in the market of microfinance. The use case that is brought under our consideration is of Currency Exchange. The idea was conceived and perceived by the current financial crises in the world market in the year 2008-09.The financial recession in world wide compelled individuals to think and start micro businesses rather than macro businesses. In our paper we conceived and designed some algorithms by using data mining techniques to have general micro currency exchange businesses for a developing country. Our algorithm processes two years historical data of currency rates and applies data mining strategies. The "Median Method" and "Rise & Fall Method" with probabilistic approach are being presented. It can be applied to N year's data with unless desired results are achieved. This is to give best choice to micro currency business men to take decision either to buy or to sell currency. Some previous curre!
ncy rates (i.e. Ups & Down) are also recorded from a popular bank of Canada & currency open markets as a proof of concept using our algorithm. The statistical and graphical analysis are being made on the data .Our algorithm can be efficiently used by all those who wish to initialize a small business (Cottage Industries) with a profitable income with less investment. Our research will lead to a new dimension in the fields of Micro finance and Data mining.
Keywords: Data mining strategies , Microfinance, Currency Exchange, Rise and Falls Method.
EXTENSION of the file: .pdf
Special (Invited) Session: Micro Business of Currency Conversion using Data Mining Techniques
Organizer of the Session: 611-211
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