Predictive analytic software is not only used by the business world to forecast customer demands. Companies also employ these solutions to assess risk and potential threats. This makes analytics and big data an extra barrier against threats both internal and external. This added form of cybersecurity ensures unauthorized agents aren't accessing your enterprise's sensitive information.
While many companies already use data analytics to crunch the numbers before enacting important business strategies, a business' IT department and chief information officer must also put predictive analytics to use to safeguard sensitive and proprietary data. In today's marketplace, a venture can no longer rely on hunches, Security Magazine advised, it needs data to assess risks quickly. Real-time results give the company heads the information they need to make wise and informed executive decisions.
"Businesses cannot afford to take a hit to their bottom line."
Predictive analytics software enables a company to examine large clusters of information, find patterns in traffic and behavior and flag any erroneous conduct. According to The Armed Forces Communications and Electronics Association, banks and federal institutions such as the Financial Industry Regulatory Authority, a wing of the Securities and Exchange Commission, use predictive analytics to root out fraudulent transactions and money laundering schemes.
Data as a weapon
Using big data to anticipate threats means an enterprise has another weapon in its arsenal to combat potential fraudsters and other risks to your bottom line. Predictive analytics replaces the hunches and gut feelings with reliable numbers giving your business's CIO and CFO real-time data to make crucial decisions during a crisis or emergency.
Businesses cannot afford to take a hit to their bottom lines or have employees using company systems to conduct illegal activities or access files they aren't authorized to. Using predictive modeling tools can show you what's normal traffic on your system and what's not, based on past data.
Software solutions that can foresee potential threats ahead help businesses handle any problem – whether internal or external – along the way, minimizing risk and security breaches. Predictive analytics gives you the insight to make educated decisions regarding your enterprise especially when you need it the most. Having these tools in place makes it easy to scrutinize potential problems and identify threats before they spiral out of control and hurt your venture.
Use big data and analytical tools to your advantage instead of relying on hunches and guts.