SAS Deploys Cloud Based Models to Address Big Data and Cyber Crime Challenge

Banking CIO Outlook | Friday, November 30, 2018

FREMONT, CA: Organizations these days are facing host of challenges. Big Data and cyber attacks have become a recurrent nightmare for the organizations, therefore to cope with these problems, the solution provider companies are coming up with effective solutions.

Recently SAS, a vendor in the business intelligence market has developed innovative solutions to address the problems faced by organizations. SAS is laying the ground with multi-city global tour focused on the New Analytics Experience, which explores the latest analytics-driven approaches to today’s big-data complexities.

The New Analytics Experience by SAS will help the organizations by presenting analytical approaches that quickly turn big, streaming, complex data into better business decisions.

Addressing another major issue of insurance fraud, SAS has come up with - Fraud Framework for Insurance through cloud. SAS Fraud Framework for Insurance, powered by SAS’ advanced fraud analytics engine, uses multiple analytics techniques: business rules, anomaly detection, predictive modeling, database searches and link analysis. The solution enables insurers to uncover more suspicious activity than traditional manual methods of detection.

This new option not only increases investigator efficiency and reduces the cost of ownership, but also does it securely on the SAS Cloud as a software-as-a-service (SaaS) offering.

One of its clients, Grange Insurance that offers auto, home, life and business insurance protection to policyholders, in opting for a cloud-based fraud detection solution, was able to make SAS Fraud Framework for Insurance available in weeks instead of months.CEB TowerGroup’s –provider of comprehensive data analysis, research and advisory services, research shows that 59 percent of insurance firms expect increased spending on cloud solutions technology over the next few years. Analysts across industries point to a continued shift of IT budgets away from in-house installations to cloud-based delivery models.

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