For entities around the globe, identifying potential fraud and corruption activities in large volumes of data has historically been difficult and quite costly. More often than not, the rich insights within that data may be difficult to identify by traditional means and remain hidden.
Against this backdrop, practitioners are turning to visual analytic tools and techniques. Graphically representing and exploring data can bring clarity to executives’ concerns and to performance improvement opportunities.
Visual analytics tools and techniques, including social networking diagrams, link analysis, geospatial analysis and tree maps, can help to focus investigations on particular activities and connect disparate pieces of information to form a cohesive story. Entities should consider equipping their personnel to employ these techniques to meet the growing challenge of reducing corruption, fraud, waste and abuse in the enterprise.
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Phi Beta Iota: This is not new–they are roughly fifteen years behind Dr. Bert Little, who pioneered this work for the Department of Agriculture, virtually eradicating crop insurance fraud ($4 million invested stopped $80 million a year in fraud). Dr. Little received a Golden Candle Award at OSS ’94 and continues to do extraordinary detection of corruption with clever computing across the Texas A&M University System.