Banking Fraud has been an ever-growing issue with huge consequences to banks and customers alike, both in terms of financial losses, trust and credibility. Business Analytics is used to reduce frauds in the financial organizations. In the light of case study that You have analyzed in the First in class controlled assessment 1, the students are asked to do the following:
- The students are asked to perform a descriptive analytics for the aim of exploring the data attached with the assessment (credit Card.xls) by answering the following:
a. Propose one interesting descriptive analytics insight that could be found in the given data using statistical analysis. In addition, evaluate the results produced
b. Propose and evaluate one data visualizations that can help in telling interesting story about the given data. In addition, evaluate the results produced.
- Analyse one predictive analytics insight that can be found using the given data. In addition, investigate one real life application where predictive analytics is applied in the same context (include your citations).
- In comparison to the fraud caused by customer, appraise literature review on another type of fraud detection and critically evaluate the different methods applied. (include your citation).
- Appraise the data structure framework needed to analyze the problem you investigated