Micro Business of Currency Conversion using Data Mining Techniques

Abstract

Microfinance business is a prevailing business in third world countries and proves beneficial to improve economies of the country. 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 process two years historical records of currency rates and applies data mining techniques i.e. Median Method and Rise & Fall Method with probabilistic approach conceived by us. It can apply 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 to buy or sell currency. Some previous currency 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. 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. We guarantee them to successfully launch their businesses with trust and courage