IBM Business Analytics-Case Analysis - 1181 Words

CASE ANALYSIS 6: MONEYGRAM INTERNATIONAL Company Background The MoneyGram brand is recognized throughout the world as a leading global payment services company. The diverse array of products and services we offer enables consumer and businesses to make payments and transfer money around the world. From New York to Russia or London to India - in more than 197 countries - MoneyGram s money transfer service moves money quickly and easily around the world. The payment services also help businesses operate more efficiently and cost effectively. We offer our products and services to consumers and businesses through a worldwide network of agents and financial institution customers. Ted Bridenstine, systems development†¦show more content†¦Ã¢â‚¬Å"We are able to detect and respond to fraud faster than before to protect our consumers as well as our global network of agents,† says Bridenstine. â€Å"We must remain ever vigilant in the face of more sophisticated financial fraudsters. The solution stopped US$30,000 of fraudulent transactions on the first day and within 17 days of operation, it had stopped US$1 million of fraudulent transactions. We’ve already stopped more than US$37.7 million in all in fraudulent transactions and prevented thousands of customers from losing funds to fraud.† Business Objectives †¢ Detect signs of fraud and money laundering QUESTIONS 1. Identify how predictive analytics was used to solve the business problem. Explain how the predictive analytics solution works. Money Gram International standing firmly at 230,000 locations in 197 countries is indeed a leading money transfer worldwide, and with such large constituency, is faced with pressure to keep away from fraud as well as compliance with regulations affecting the international business transactions. Because of the nature of Money Gram s business, which is of course money transfer which solely uses computer system to speed transactions, there is no single data element that associates an individual with one or moreShow MoreRelatedManaging Business And Research Data Is A Big Trend Right Now1566 Words   |  7 PagesIBM Watson Analytics Shreya Prabhu, San Jose State University, San Jose CA Abstract Managing business and research data is a big trend right now. In the dearth of skilled data analysts and data scientists as to the ever increasing need of managing and analyzing data, it is the need of the hour to search for tools and solutions that can achieve big data analysis. 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