Fraud detection analytics is the process of uncovering fraudulent actions or behaviour so that you can then predict fraud and reduce or stop it.
This type of analytics looks at vast amounts of data to identify patterns or certain behaviours that flag fraudulent activity so that processes or systems can be changed to prevent fraudulent activity.
Fraud detection analytics matters because it can help you to identify patterns of behaviour or actions that are the precursors to customer or employee fraud, and therefore stop it before it happens.
Fraud costs many businesses a great deal of money every year – money that could be bolstering profits and allowing the business to grow. And it ...