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Top Data Analytics Use Cases for Fraud Detection

Businesses lose almost $4 trillion annually due to fraud around the world. According to data from the Association of Certified Fraud Examiners (ACFE) 2018 study, the majority of typical firms faced a 5% revenue loss risk due to fraud. Healthcare is one of the industries that experiences significant losses as a result of fraud; businesses lose over $68 billion yearly, or 3% of all healthcare expenditures. Organizations are finding it more difficult to put in place effective systems for identifying and preventing fraud as fraud spreads across industries and different kinds of businesses. Data analytics solutions help you to over come these problems by analyzing and protecting your data Analytics for Fraud Detection: Finding Hidden Threats Detecting fraud in an organization, whether it be current or anticipated, is the first step in the fraud detection process. Systems must be in place to detect fraud at an early stage so that action may be done to either stop it from happening or lessen...
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The Growth and Future of Data Analytics

In 2021, the worldwide big data analytics market was valued at $193 billion, and it is expected to increase at a rate of 10.9 percent between 2022 and 2027. Within this, India holds a $2.71 billion market share, and the rate of expansion of data analytics outpaces even the worldwide industry, with a 33 percent CAGR. More chances, greater positions, and more compensation come with a larger industry. The conditions for you to begin a career in data analytics could not be more favorable. Data Analytics is Becoming more Popular Internet penetration was spotty just a decade ago. There is almost no one nowadays who does not own a smartphone, and most individuals also own many additional devices. They use these gadgets for more than simply making phone calls and sending text messages; they use them for online shopping, mobile banking, and even working from home. Large volumes of data are generated while using data networks to buy a shirt, receive a home loan, or carry out a commercial project...
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