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How Enterprises In Telecommunication Sector Tackle Fraud With Data Science
Data Science is a rapidly evolving field in the age of Big Data that is revolutionizing the way in which enterprises across different sectors operate. As data has become new oil that fuels the business development process, Data Science has become the need of the hour for the enterprises that rely on Big Data. The impact of Data Science can be seen at large in the industries related to sectors like IT, Healthcare, Business, Industrial Telecommunication, Insurance, Banking, Government & many other sectors.
Most of the companies in the Telecommunication sector have sheer volumes of Big Data that needs be explored. By analyzing this data with the help of Data Science, enterprises in this sector will be achieving numerous benefits like operational efficiency, maximized profits, accurate marketing strategies, accurate data transfer & several other benefits. Know about the different areas where Data Science is being applied with our Data Science Training In Hyderabad program.
Now, let’s understand how enterprises in the telecommunication sectors tackle frauds by using Data Science.
- Fraud Detection With Data Science
Most of the enterprises in the telecommunication sector will be having several millions of customer base & so there are high chances for fraudulent activities. Illegal access, authorization issues, fake profiles, cloning, etc are among the most commonly seen frauds in the telecommunication sector. To detect & prevent the occurrence of frauds, enterprises in this sector are relying heavily on fraud detection models that are powered by Data Science.
The unsupervised Machine Learning algorithms are used in the Data Science fraud detection models. These algorithms are very much effective when it comes to analyzing the sheer volumes of customer and operator data to accurately spot the unusual characteristics of data sets that reflects fraud. After detecting the anomalies, this system employees data visualization technique to report the same to the data analysts who would then be analyzing the reports & reports the same to the official management. Fraud detection models in Data Science that are powered by Machine Learning algorithms are very much accurate in detecting & analyzing frauds.
Know more in-depth about the other ways in which Data Science is being used in the other areas by being a part of our Kelly Technologies Data Science training program.
Kumar Raja is a multidisciplinary writer, and lifelong learner. He’s a Digital Marketer in the making who spends his time analyzing the developments in the tech world. He’s very passionate about helping people understand the latest trends in the tech world through his well-researched articles. He’s able to condense complicated information about the latest technologies into easily digestible articles.