The typical organization loses 5 percent of its annual revenue to fraud. That loss amounts to more than $3.5 trillion around the world every year. But smarter enterprises are using Big Data & Analytics to manage risk and identify irregularities and warning signs that might otherwise be tough to spot, while recommending intelligent actions to impede any deceptive or harmful practices by dishonest parties.
IBM is helping thousands of companies manage billions of possible security threats a day.
Fighting fraud and counterfeiting
Fraud takes many forms, but predictive analytics can help an enterprise spot various types of illegal activity. An insurance company can use analytics to identify fraudulent claims, so it can process claims faster and more accurately—and even uncover previously undetected fraud that compromises its operations. A company can also resolve counterfeiting problems with RFID tagging so it can save significantly on product repair—and potentially lower the prices it charges its customers.
Now more than ever, Big Data & Analytics can help an enterprise monitor, detect and control fraud and other threats that jeopardize successful operations.
Find out how IBM can help identify warning signs before they become problems.