Tuesday, 28 February 2012

Deep Into Big Data

This article by Divina Paredes discusses the role of Data Scientists and how new data handling technology is enabling different industries to improve the way they do business.

"...HSBC is now using SAS fraud management to protect all credit card transactions in real time. The solution runs at the point of transaction to decide whether that transaction is potentially fraudulent and runs analytical processes quickly. The shift is from fraud detection to fraud prevention, says Foster. The result is significantly lower incident of fraud across tens of millions of debit and credit card accounts, and improved detection rates and significant reduction in false positives..."

Read more on CIO here.

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