The use of High Performance Big Data and Analytics to Detect, Pre-empt & Prevent Fraud
Companies around the world lose US$3.5 trillion to fraud each year, according to a report by the Association of Certified Fraud Examiners. The average loss of revenue per organization is 5% annually.
Here Are the Facts:
- National estimates project that billions of dollars are lost to healthcare fraud and abuse on an annual basis.
- Online retailers lose around $3.5 billion or 0.9 percent of online revenue. In other words, $9,000 is lost to fraud for every $1 million in revenue
- Financial industry sources estimate annual losses associated with credit card fraud to be in the billions of dollars.
- The total cost of insurance fraud (non-health insurance) is estimated to be more than $40 billion per year.
To combat these astounding statistics, companies are harnessing the power of big data analytics to fight fraud. One of the most dramatic aspects of high-performance analytics is the ability to use data sources that were previously ignored because they were too large or changed too frequently for more traditional analytical approaches.
What Will You Walk Away Knowing?
- Build an analytics team dedicated to creating the pre-emptive strike
- Demonstrate an ROI, sell the short and long term benefits to get the essential top level buy in
- Implement fraud analytics strategically without disrupting the customers experience and your organizations operations
- Design, evaluate and authenticate a machine learning framework able to calibrate in an automatic, real-time and adaptive manner
- Determine the next strike of suspicious activity from a claims perspective through predictive analytics
- Effectively connect your Hadoop and NoSQL databases with traditional relational databases, data exchange formats, and enterprise applications
The Big Data Analytics for Fraud Detection Forum
conference is the ultimate platform for executives looking to learn the high-performance techniques, strategies and solutions leading organizations are deploying to alleviate fraud through the use of big data and analytics. Don't miss out on this business critical event of the year.
End 2013 armed with the right tools and strategies to make 2014 the year you win the war against fraud
Join us this December 2 - 3, 2013 at the ONLY Big Data Analytics for Fraud Detection Forum you will need to attend.
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