Companies Missing the Boat on Using Big Data to Control Fraud

An analysis by Ernst & Young shows that most companies are not even aware of techniques in analyzing big data that can be used to help them prevent fraud and other forms of corruption. Techniques known as Forensic Data Analytics (FDA), focus on risk analysis and mine the data for indications of illicit behaviour. These techniques are known to forensic specialists but are not widely known to companies generally. However, companies could be using them and should be considering them for inclusion in their control oriented big data analyses. For a copy of the E&Y study, follow this link.