IBM unveils software to use big data, analytics

By : |March 24, 2014 0

NEW DELHI, INDIA: IBM introduced new software and services to help organizations use Big Data and Analytics to address the $3.5 trillion lost each year to fraud and financial crimes.

IBM launched its ‘Smarter counter fraud’ initiative, drawing on the expertise and innovation from more than 500 fraud consulting experts, 290 fraud-related research patents and $24 billion invested in IBM’s Big Data and Analytics software and services capabilities since 2005.

“The initiative extends IBM’s leadership in Big Data and Analytics and Cloud to help public and private organizations prevent, identify and investigate fraudulent activities. IBM is delivering new software that allows organizations to gain better visibility and take a more proactive, holistic approach to countering fraud. This includes the ability to aggregate Big Data across a variety of internal and external sources – including mobile, social and online – and apply sophisticated analytics that continuously monitor for fraudulent indicators,” the company said.

The new offerings feature advanced analytics that understand non-obvious relationships and co-occurrences between entities, new enhanced visualization technologies that can identify and connect fraudulent patterns closer to point of operation, and machine learning to help prevent future occurrence based on previous attacks and behaviors.

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