In the last few years, Forensic Data Analytics (FDA) has grown considerably in terms of technological advancement, enterprise adoption and maturing FDA deployment. FDA refers to the ability to collect and use data, both structured (e.g. general ledger or transaction data) and unstructured (e.g. e-mail, voice or free-text fields in a database), to detect, prevent, monitor or investigate potentially improper transactions, events or patterns of behavior related to misconduct, fraud and non-compliance issues. It is an advanced form of data mining that many of today’s companies are using not only to find patterns in otherwise overwhelmingly large datasets, but also to gain insights into the quantitative and statistical characteristics of their data.
Mar 272016