Fraud Analytics: Data Challenges and Business Opportunities

Overview

Fraud analytics applications are growing more sophisticated and important, not just in banking and insurance, but also in healthcare and government – anywhere there is an opening to cheat on financial transactions or benefits received. For most of these applications, the biggest challenges lie not in the analytical modeling, but in gathering and preparing the data for analysis. When the analytics seems to be underperforming, the problem almost invariably lies in the data. When the data challenges are met, however, the enterprise unlocks multiple streams of value – not only in fraud detection, but also in adjacent applications

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