Wednesday, January 27, 2021
Corporate Compliance Insights
  • Home
  • About
    • About CCI
    • Writing for CCI
    • NEW: CCI Press – Book Publishing
    • Advertise With Us
  • Articles
    • See All Articles
    • NEW: COVID-Related
    • Compliance
    • Ethics
    • Risk
    • FCPA
    • Governance
    • Fraud
    • Internal Audit
    • HR Compliance
    • Cybersecurity
    • Data Privacy
    • Financial Services
    • Leadership and Career
  • Vendor News
  • Jobs
  • Events
    • Webinars & Events
    • Submit an Event
  • Downloads
    • eBooks
    • Whitepapers
  • Podcasts
  • Videos
  • Subscribe
No Result
View All Result
  • Home
  • About
    • About CCI
    • Writing for CCI
    • NEW: CCI Press – Book Publishing
    • Advertise With Us
  • Articles
    • See All Articles
    • NEW: COVID-Related
    • Compliance
    • Ethics
    • Risk
    • FCPA
    • Governance
    • Fraud
    • Internal Audit
    • HR Compliance
    • Cybersecurity
    • Data Privacy
    • Financial Services
    • Leadership and Career
  • Vendor News
  • Jobs
  • Events
    • Webinars & Events
    • Submit an Event
  • Downloads
    • eBooks
    • Whitepapers
  • Podcasts
  • Videos
  • Subscribe
No Result
View All Result
Corporate Compliance Insights
Home Risk

The Future of Data Analytics: From Cleaning Up the Trash to Managing Risk

by Manji Matharu
November 4, 2014
in Risk
The Future of Data Analytics: From Cleaning Up the Trash to Managing Risk

Data management requirements today are changing, and as the future of big data unfolds, it’s important for analytics and data controls to be a unified solution.

As we enter this brave new world of Big Data, maintaining the status quo is no longer enough.

The number of mobile devices will surpass the world’s population this year, according to Cisco’s Global Mobile Data Forecast. The data those devices generate across networks is exploding accordingly.

Global mobile data traffic increased 81 percent last year alone, to 1.5 Exabytes a month. Cisco predicts it will reach a staggering 15 Exabytes a month by 2018. The volume of this data, as well as its complexity, means that traditional approaches to data analysis for things like fraud prevention and risk management are simply no longer viable.

A combination of analytics and data control tools is vital to ensuring data quality and managing risk. While one analyzes trends and gleans key insights from the information, the other ensures the data is accurate. Without integrity controls, analytics could very well be producing erroneous insights.

Garbage in, garbage out, so it’s time to clean up the trash.

Together, analytics and controls deliver a powerful, next-generation solution right now to proactively minimize pain points like risk and fraud, improve accuracy and efficiency and reveal consumer behaviors.

Some of the best real-life case studies come out of the telecommunications industry. For major cellular or cable companies, it is critical to prevent risky subscribers from signing up for services rather than provision them and then determine whether they pose a fraud or nonpayment risk. Companies that run effective analytics at the point of sale identify risky consumers before providing expensive subsidized equipment and incurring other costs. They have an opportunity to deploy measures that exclude subscribers who commit identity theft or other fraud schemes and to manage others who present financial risks.

About 5 percent of telecom customers default on their contracts. Predictive analytics help separate subscribers who will fail to pay on purpose from subscribers who could be good customers.  Analytics can identify consumers who intended to pay but defaulted because of their circumstances. Analytics can also help make some of them profitable customers again through collection efforts that include retention plans that manage future exposure.

Analytics and Controls Beyond Fraud

Predictive analytics aren’t limited to just fraud. Marketing teams already use them to determine which customers will prove most profitable over their lifetimes, which customers are likely to churn and how they can be retained and which customers are well suited to upsell. Analytics are already being harnessed worldwide to better run every aspect of the business.

But to do any of this, data must be accurate and complete. The ability to make good predictions involves data generated by the organization, as well as data available in the public domain like demographics and social network data.

When you’re dealing with opportunities and risks that are worth millions of dollars, you want to be certain you use precise, complete data to get answers that will enable effective actions. Automated controls ensure service providers work with accurate, holistic, consistent data to produce accurate, auditable results.

Risk reduction alone adds significant value to operations. The ROI for this approach is quick and easily quantified. One of the largest cable multiple-system operators (MSOs) in the U.S. discovered more than 14,000 confirmed cases of fraud among its 15 million customers within 10 months of implementing a fraud-detection solution based on analytics that covered the lifecycle of its subscribers. It uncovered over 25,000 total actionable cases with very few false positives.

Combining analytics with controls will help you to identify the customer of tomorrow – and to earn and measure significant financial returns, starting right now.

For most organizations, that’s just the beginning.

—

About Infogix, Inc.
Infogix is an innovative leader providing data integrity and data analytics solutions to market leaders around the globe. Infogix solutions for data integrity provide an automated, independent and real-time system to ensure the trustworthiness of your data for effective decision-making and analysis. Our customer and operational business analytics allow you to monetize big data while streamlining your processes, reducing expenses and maximizing revenue by providing actionable insight and highly automated value capture. For more information, call +1.630.649.6800 (U.S, Canada, and International), or visit http://www.infogix.com.


Previous Post

LRN Partners with Convercent to Provide Helpline and Case Management Solution

Next Post

The Latest Trends in the Russian Clinical Trials Process from an Anticorruption Standpoint

Manji Matharu

Manji Matharu - InfogixJaswinder (Manji) Matharu was the CEO and founder of Agilis International, Inc. before its merger with Infogix. He is widely recognized in the telecommunications community as an innovation leader in technology and building scalable organizations.  At Agilis, Manji set the company strategy and helped build a global organization, including offshore captive center, to deliver profitable growth. Prior to founding Agilis, Manji served in the CEO, COO and CTO roles at Sotas, Inc., a Safeguard Scientifics company that delivered network monitoring systems for large telecom carriers. Manji founded S3Net, Inc. and was the President and CEO prior to its merger with SOTAS, Inc., in January 2000.  S3Net was the market leader in Fraud Management and QoS systems prior to merging with SOTAS.  After joining SOTAS, Manji created and executed on the company’s highly innovative product strategy, and managed the company’s success in selling its Fraud and QoS Management products to international telecom carrier market. He holds a Master’s Degree in Computer Science and a Bachelor’s Degree in Electronics and Telecommunications.

Related Posts

businessmen in miniature studying volatile stock market

The Risk of Undervaluing Culture in a Volatile Market

January 27, 2021
RiskMap 2021: Legal and Compliance Outlook

RiskMap 2021: Legal and Compliance Outlook

January 25, 2021
silhouette of businesspeople in meeting with blue cyber background

Cyber Risk Quantification and Prioritization is the Future of GRC

January 20, 2021
man working on smartphone and laptop

Adverse Media Screening: Relying on Google Alone Can Expose Organizations to Risk

January 19, 2021
Next Post
The Latest Trends in the Russian Clinical Trials Process from an Anticorruption Standpoint

The Latest Trends in the Russian Clinical Trials Process from an Anticorruption Standpoint

Access realtime data
Dynamic Risk Assessments with Workiva

Special Coverage

Special COVID page graphic

Jump to a Topic:

anti-corruption anti-money laundering/AML Artificial Intelligence/A.I. automation banks board of directors board risk oversight bribery CCPA/California Consumer Privacy Act Cloud Compliance communications management Coronavirus/COVID-19 corporate culture crisis management cyber crime cyber risk data analytics data breach data governance decision-making diversity DOJ due diligence fcpa enforcement actions financial crime GDPR GRC HIPAA information security internal audit KYC/know your customer machine learning monitoring regtech reputation risk risk assessment Sanctions SEC social media risk supply chain technology third party risk management tone at the top training whistleblowing
No Result
View All Result

Privacy Policy

Follow Us

  • Facebook
  • Twitter
  • LinkedIn
  • RSS Feed

Category

  • CCI Press
  • Compliance
  • Compliance Podcasts
  • Cybersecurity
  • Data Privacy
  • eBooks
  • Ethics
  • FCPA
  • Featured
  • Financial Services
  • Fraud
  • Governance
  • GRC Vendor News
  • HR Compliance
  • Internal Audit
  • Leadership and Career
  • Opinion
  • Resource Library
  • Risk
  • Uncategorized
  • Videos
  • Webinars
  • Whitepapers

© 2019 Corporate Compliance Insights

No Result
View All Result
  • Home
  • About
  • Articles
  • Vendor News
  • Podcasts
  • Videos
  • Whitepapers
  • eBooks
  • Events
  • Jobs
  • Subscribe

© 2019 Corporate Compliance Insights