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ACCA Strategic Professional · Strategic Business Leader · Big data and data analytics

Tavian Bank uses transaction data streams and machine analysis to flag unusual card spending patterns within seconds and block suspected fraudulent payments. Which business use of big data is this?

This is real-time anomaly detection for fraud and risk management. The bank analyses streaming transaction data to spot unusual spending within seconds and block suspect payments. Cross-selling, customer lifetime value and workforce planning are different uses that do not match the described fraud-prevention activity.

  1. AReal-time anomaly detection for fraud and risk managementCorrect
  2. BMarket basket analysis to cross-sell products
  3. CCustomer lifetime value forecasting
  4. DWorkforce planning using HR records

Explanation

Analysing live transaction streams to spot unusual patterns and act within seconds is real-time anomaly detection for fraud management. Market basket analysis and lifetime value concern marketing, and workforce planning uses HR data not present here.

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