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IBM unveils software to use big data, analytics

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.

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.

By CIO staff

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