Walter Associates

  In today’s fast-paced business landscape, making informed decisions is paramount for success. As there’s a lot more data available nowadays, companies have a tough job in finding important information from it. This is where  Business Intelligence  (BI) plays a pivotal role.  BI encompasses processes, technologies, and tools that transform raw data into actionable intelligence, aiding strategic decision-making. This article delves into the significance of BI in enhancing decision-making within businesses. Understanding Business Intelligence Definition and Scope Business Intelligence  systematically uses data analytics, reporting tools, and performance metrics to gain insights into business operations. It involves collecting, integrating, analyzing, and visualising data from various sources to facilitate informed decision-making. Components of Business Intelligence 1. Data Warehousing At the core of  Business Intelligence  lies data warehousing. This c...

  WHAT IS FRAUD ANALYTICS? Fraud analytics uses Big Data techniques to prevent online financial fraud It can detect and mitigate fraudulent activity while it is taking place. It can also predict future behavior and suggest preventive methods. With machine learning, all financial transactions, from start to finish, can be examined for potential risk. It starts with collecting and analyzing behavioral, device, and transactional data. For example: Predictive analytics examines patterns for future fraud potential via unexpected events. Visual analytics can monitor transactions for suspicious activity through dataset diagrams and dashboards. Forensic analysis can examine the reasons for a fraud event and the relationship between factors causing it. These techniques can be applied across all types of financial fraud: identity theft, credit card fraud, fake claims, embezzlement, etc. They protect consumer funds and enhance the reputation of the firm.   THE BENEFITS OF FRAUD ANALYTICS...

  POSSIBILITIES AND POTENTIAL Comprehending artificial intelligence As the AI world expands, it’s becoming increasingly critical to comprehend its nuances. Artificial intelligence is one of humanity’s most sophisticated and unique inventions, and despite the tremendous advancement, the field is still considered nascent and unexplored. Every incredible AI application we currently see only scratches the surface. According to  Gartner , the global AI intelligence model market will reach $62 billion in 2022 alone, a 21.3% rise from 2021. Even though this fact has been highlighted and stressed multiple times, it’s still hard to completely understand AI’s probable impact on the future. It is because, even at this early point in its development, AI has had a revolutionary effect on society. POSSIBILITIES AND POTENTIAL Comprehending artificial intelligence As the AI world expands, it’s becoming increasingly critical to comprehend its nuances. Artificial intelligence is one of humanity...