SAS on big data analytics as a security measure
The SAS Forum KL 2015 today saw 500 business representatives and experts in data analytics gather for a one-day event that focuses on the exchange of ideas, as well as the further development and adoption of big data in the country.
One of the key speakers at the event was Deepak Ramanathan, CTO of SAS Asia Pacific who said that analytics is not new as SAS has over 40-years of experience in the field. However, the nature of data has changed.
“There are three main components of analytics: Data, which has now grown in volume as it is easier to gather and analyse; Discovery, which is a key difference in analytics today, where organizations innovate and use what they've gathered to better themselves and their operation; and Deployment, where they use decision of scale to take the model that has been made and specialize it for a smaller and more focused segment,” said Deepak.
During the media briefing, Rohan Langley, Fraud & Money Laundering Detection Specialist of SAS South Asia, said that fraud is a global problem and data analysis has always been one of the tools used to solve these cases, but with big data and modern analytics, tools that are used to gauge customer satisfaction and predict their behavior can be used to prevent fraud.
“Previously, fraud is studied on a case-to-case basis and are based on reports. More often than not, two departments or teams may be investigating two cases that may be linked but they never talk to each other. With data analysis, not only can linked cases be simultaneously investigated, suspicious activities can be detected much sooner than before,” said Langley.
Additionally, using data analysis as a security tool is not limited to the banking sector alone. Queenie Wong, Practice Lead of Business Analysis Center of Excellence SAS Malaysia added that the same technology could be implemented in the Insurance, Healthcare, Government, and especially utility industries.
“Utility companies, using analytics, can make better decision on where to build their stations, remedy leaks, and detect fraud which in turn translates to less wastage,” said Wong.
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