“Between the birth of the world and 2003, there were five exabytes of information created. We [now] create five exabytes every two days. See why it’s so painful to operate in information markets?”
So said Eric Schmidt, Google’s executive chairman, in 2010 and anyone who has tried to clear their email inbox can relate to that. Schmidt’s comment shows why “the sexy job in the next ten years” will be “to access, understand, and communicate the insights you get from data analysis.”
Although humans receive, evaluate and accumulate more information now than ever before, the rich insights within that data may be difficult to identify by traditional means and often remain hidden. Yet, in the realm of fraud detection for example, the ability to reveal relationships, communications, locations and patterns can make the difference between uncovering a fraud scheme at an early stage and having it grow into a major incident.
Against this backdrop, practitioners are turning to visual analytic tools and techniques to detect and reduce corruption, fraud, waste and abuse in the enterprise. From money-laundering schemes to bribery violations of the U.S. Foreign Corrupt Practices Act, the UK Bribery Act, South Africa’s Prevention and Combating of Corrupt Activities Act (2004) and other anti-corruption laws, from manipulating financial statements by reporting fictitious revenues to inappropriate purchases using p-cards, graphically representing and exploring data can bring clarity to executives’ concerns and to performance improvement opportunities.
Download the report . . . . Using visual analytics to reveal corruption, fraud, waste and abuse
If you have any questions or require a more detailed discussion, all African regional contacts are listed at the end of the report.