Here's the recent articles submitted by syntelli solutions
Articles By syntelli solutions
Gdpr And Ccpa Compliance – A Cheat Sheet For Data Privacy
Submitted as: Syntelli Marketing
Both the California Consumer Privacy Act (CCPA) and the EU's General Data Protection Regulation (GDPR) aim to protect consumers' privacy rights. Because both laws attempt to fundamentally change business practice to establish and protect new data privacy rights for individuals, any business – regardless of where the business operates – needs to be familiar with how these laws could require changes to operations now or in the future.
While both laws address data privacy, the laws have important differences. This post outlines some important aspects of the laws and compares and contrasts CCPA and GDPR. As always, seek appropriate legal guidance as this post is not legal advice.(read
entire article)
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Category : General
5 Ways Prescriptive Analytics Helps Deliver Better Financial Services
Submitted as: Syntelli Marketing
Financial services companies are always striving to serve consumers better, but maximizing services requires efficiency and financial stability. Each service provided must be calibrated to provide what the customer needs without wasting company resources.
Prescriptive analytics is a data sciences field that shows companies the best decision to make in a given scenario. This field uses specialized data analysis programs to consider a range of possible decision parameters, then analyze which one gets the desired results.
Although predictive analytics in banking is helpful and essential, prescriptive analytics takes the data a step further. Predictive analytics shows companies the raw results of their potential actions, while prescriptive analytics shows companies which option is the best.
Prescriptive analytics is useful in a wide range of applications, from manufacturing investments to self-driving cars. However, it can be particularly helpful for financial services analytics due to its ability to harness long-term economic trends and customer data, including big data.(read
entire article)
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Category : General
Using Big Data For Financial Fraud Prevention
By: syntelli solutions
Although technology has made banking more convenient for customers, it has also opened up new avenues for fraud. Financial fraud statistics show that account fraud, credit card fraud, insurance fraud, scams, and other fraudulent acts cause millions of dollars in damages to institutions and consumers every year.
Financial fraud detection is essential for minimizing risk for institutions. Scammers can easily drain individual accounts or run up tens of thousands of dollars on credit cards. Worse yet, organized crime rings can execute elaborate schemes and steal millions of dollars.
Big data fraud detection is a cutting-edge way to use consumer trends to detect and prevent suspicious activity. Even subtle differences in a consumer's purchases or credit activity can be automatically analyzed and flagged as potential fraud. Using data analytics to detect fraud requires expert knowledge and computer resources, but is easier than ever, due to improvements in programming languages and server technology.(read
entire article)
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Category : General
5 Ways Ai Transforms Healthcare
Submitted as: Syntelli Marketing
An outbreak of a respiratory illness caused by a new coronavirus, first identified in Wuhan, China, has captivated the public since January 6. On this date, the CDC announced the coronavirus outbreak. An AI-powered disease monitoring platform detected the outbreak a week earlier.
The speed of AI in health care is one advantage that demonstrates the impact of AI in all aspects of health care, including care delivery, research, early detection and pharmacovigilance, diagnosis, and treatment.
The following list of examples of the impact of AI in health care covers all of these areas.(read
entire article)
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Category : General
Data Science Techniques For Fraud Detection
Submitted as: Syntelli Marketing
In a recent post, we discussed the importance of data science techniques for detecting fraud. In short, data science-driven anomaly detection finds suspect behavior, even as fraudsters adjust their behavior. With data science techniques, the people working to prevent fraud have shifted the battlefield in the war against fraud.
But fraudsters use data, too, and these criminals are using speed and big data AI to shift the battlefield again. Criminals use AI to automate cyberattacks, and, alarmingly but not surprisingly, criminals used AI to impersonate a CEO “to impersonate a chief executive's voice and demand a fraudulent transfer of €220,000 ($243,000)” in March of 2019—almost a year ago. Companies need to stay on top of the techniques needed to prevent fraud.(read
entire article)
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Category : General
Covid-19: Navigating The Ship
By: syntelli solutions
Background: COVID-19
On January 30th, 2020, the World Health Organization (WHO) officially labeled the COVID-19 virus as a “public health emergency of international concern”. In the weeks that followed, the world watched as the virus grew and began to spread across Asia and Europe, and the concern over the virus spreading to the United States no longer became a question of “IF”, but rather “WHEN”.
In a proactive effort to reduce the spread of the virus, some American businesses began to limit or shut down operations entirely, while most continued business as usual, waiting until more concrete information became available. Over the past week, that much needed information became more accessible and the impact on American businesses became clearer.
On March 11th, 2020, the WHO officially classified the COVID-19 virus as a Pandemic, and two days later, the President of the United States declared the COVID-19 outbreak as a National Emergency. We've now seen the cancellation of the NBA season, the NCAA Tournament, concerts, and virtually every other organized event of over 100 people.
As a country, the COVID-19 virus is no longer a story we're hearing about on the news, but a reality that we must take seriously and act accordingly.(read
entire article)
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Category : General
How Your Healthcare Organization Can Use Marketing Analytics To Drive Decision-making In 2020
By: syntelli solutions
Although medical treatment is at the core of every healthcare organization's mission, patient outreach and marketing are essential to its survival. Marketing teams must work hard to strategize, create ad campaigns, and gather data to ensure continuous growth.
Healthcare marketing analytics is the key to determining which strategies are working and guiding future decision-making. They can even help leaders decide which demographics are likely to increase in the future, as well as which services need changes and improvements. They are part of a broader set of data-driven strategies to help organizations manage their resources more effectively and grow to serve the community better.(read
entire article)
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Category : General
Why Is Digital Transformation Important For Healthcare?
By: syntelli solutions
We're already three months into the 2020 decade and companies are strategizing about how they can digitally transform to serve their customers better; whether to enhance current business processes, bring new products and services to market or deliver new customer experiences. In a 2019 study by International Data Corporation, Global Digital Transformation spending reached $1.18 trillion. The two industries that invested the most in digital transformation in 2019 are discrete manufacturing ($221.6 billion) and process manufacturing ($124.5 billion). For both industries, the top DX spending priority is smart manufacturing, supported by significant investments in autonomic operations, manufacturing operations, and quality. Retail will be the next largest industry in 2020, followed closely by transportation and professional services.
Other digital savvy industries such as high tech, media and telecom have been at the forefront of this digital transformation engaging with customers enabling new experiences back to them. Nexflix, Amazon, Walmart and Target are among the most talked about in this area of digital transformation.(read
entire article)
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Category : General
Top 9 Data Science Consulting Firms In Jacksonville, Fl
By: syntelli solutions
So it's a foregone conclusion that Jacksonville is the fastest growing city of Florida. The riverside location and deepwater port have made the city a transport and logistics hub. The city's many banking and financial services companies, Fortune 500 companies, IT and manufacturing centers, insurance and media establishments have made Jacksonville a financial powerhouse.(read
entire article)
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Category : General
The Role Of Big Data In Preventing Healthcare Fraud And Waste
By: syntelli solutions
Due to the complexity of medical procedures and the variety of goods and services available today, medical billing is prone to errors and waste. Mistakes in electronic medical records are common, and many patients don't examine their monthly insurance Explanation of Benefits closely enough to catch them.
Fraud, waste, and abuse (FWA) is the term used for both intentional and unintentional billing errors that end up costing insurers money. Although deliberate acts often target Medicare and Medicaid recipients, they are sometimes aimed at private insurers. Sometimes, the patients themselves are in on the fraud.
Fraud in the healthcare industry is not a new problem and eliminating it may be impossible. The National Healthcare Anti-Fraud Association estimates the cost of healthcare fraud to be $80 billion annually in the U.S. Other sources determine it is closer to $200 billion, or 3-10% of the total spend on healthcare.
However, big data can tackle not only deliberate fraud, but also unintentional input errors that staff make. Machine learning powered by big data can identify abnormal patterns and outliers from individual providers based on historical data that is continuously updated to provide more accurate results.
This can help insurers recover more losses, which research suggests is only 5% annually.(read
entire article)
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Category : General
