By Charlie Berger, Advanced Analytics-Oracle on May 29, 2012
I've created and recorded another YouTube-like presentation and "live" demos of Oracle Advanced Analytics Option, this time focusing on Fraud and Anomaly Detection using Oracle Data Mining. [Note: It is a large MP4 file that will open and play in place. The sound quality is weak so you may need to turn up the volume.]
Data is your most valuable asset. It represents the entire history of your organization and its interactions with your customers. Predictive analytics leverages data to discover patterns, relationships and to help you even make informed predictions. Oracle Data Mining (ODM) automatically discovers relationships hidden in data. Predictive models and insights discovered with ODM address business problems such as: predicting customer behavior, detecting fraud, analyzing market baskets, profiling and loyalty. Oracle Data Mining, part of the Oracle Advanced Analytics (OAA) Option to the Oracle Database EE, embeds 12 high performance data mining algorithms in the SQL kernel of the Oracle Database. This eliminates data movement, delivers scalability and maintains security.
But, how do you find these very important needles or possibly fraudulent transactions and huge haystacks of data? Oracle Data Mining’s 1 Class Support Vector Machine algorithm is specifically designed to identify rare or anomalous records. Oracle Data Mining's 1-Class SVM anomaly detection algorithm trains on what it believes to be considered “normal” records, build a descriptive and predictive model which can then be used to flags records that, on a multi-dimensional basis, appear to not fit in--or be different. Combined with clustering techniques to sort transactions into more homogeneous sub-populations for more focused anomaly detection analysis and Oracle Business Intelligence, Enterprise Applications and/or real-time environments to "deploy" fraud detection, Oracle Data Mining delivers a powerful advanced analytical platform for solving important problems. With OAA/ODM you can find suspicious expense report submissions, flag non-compliant tax submissions, fight fraud in healthcare claims and save huge amounts of money in fraudulent claims and abuse.
This presentation and several brief demos will show Oracle Data Mining's fraud and anomaly detection capabilities.