NETMAP BLOG: TALES FROM THE TRENCHES

Posted by John Gray
,
17 Jan 2018

Traditional reporting tools or ERB (Exception Based Reporting) are no longer adequate in this new world of big data analytics. Exception reporting is a basic starting point, however, the modern tools available for data mining empower the analyst and use data visualisation technologies for deeper insights.

 

The NetMap difference is the ability to create an open-ended investigation where the millions of lines of data are churned and visualised in a way to stimulate the intuition of the subject matter expert performing the investigation.

 

The data mapping and visualisation capability of DetectR allows the analyst or internal auditor to follow an intuitive pathway without being an IT specialist. Further, the difference between NetMap's DetectR and traditional business software is its ability to find the hidden problems and consistently monitor and report on further occurrences of the problem.

 

Many fraud detection procedures rely on spot checks and random samples. NetMap allows you to map each and every financial transaction throughout the course of the year. Irregularities are immediately pinpointed. Some will have valid explanations or indicate training or procedural errors. Others may reveal potential breaches of protocols that could be costly. Either way, you are now armed with the knowledge and can take action. Put simply, NetMap allows you to audit your data using the world’s most powerful tools every day not once a year. Ignorance is no defence in today’s corporate environment.

 

NetMap was originally created to help intelligence agencies identify complex criminal activities and develop profiles of sophisticated criminals and terrorists. Now, driven by intense competition and a strong focus on corporate responsibility, leading organisations and government agencies around the world are using these same powerful techniques to their advantage.

 

Loss Prevention Analyst

Posted in: Exception Reporting

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