Sramana Mitra: That is very difficult. In one domain you have all the heuristics. But the minute you switch domains, you don’t have that knowledge. Patrick Taylor: That is why I am saying who gets us into those domains is someone else. They are doing the sales function and the heuristics function. I think there
Lars Olrik is the group chief executive officer of Verdande, and Joanne Kinsella is the company’s chief executive officer of financial services. The company specializes in early problem detection and prevention, driving its insights from data applying big data technologies. In this interview, Joanne and Lars talk about the oil & gas, healthcare, and financial
Sramana Mitra: Is this something that companies go out and look for? Is it something that all large MNCs put in place – some sort of fraud monitoring systems? Patrick Taylor: They don’t all have one in place now. SM: So your customers are all large MNCs? PT: Our customers are mostly large Fortune 1000
Sramana Mitra: You are tracking anomalous behavior at a business process level, and then you are correlating that back to individuals who repeatedly trigger such anomalous behavior? Patrick Taylor: That is correct. We are basically looking at it both ways: “Is there something wrong with this transaction?” Then, as I look over time, I ask
Sramana Mitra: Are you positioned today as a fraud detection company, or do you have a different, broader positioning? Patrick Taylor: Much broader than that. We are a continuous analysis company. Our software can operate on an ongoing basis. I need to be looking for this every day, and the sooner I find the problem,
Patrick Taylor is the chief executive officer of Oversight Systems, a Continuous Transaction Analysis platform for big data that helps businesses make smarter decisions. In this interview Patrick talks about how Oversight Systems’ platform is used to detect fraud and internal security flaws. Furthermore, he describes the platform’s capability of resolving problems and finding new
Sramana Mitra: I think most of the big data solutions nowadays are being delivered in either public or private clouds. Sandy Steier: But in that case, the purpose of the cloud is merely an outsourcing mechanism, so you don’t have to have your own computers and your own data center. It is not open to
Sramana Mitra: What is one of the most significant representative use cases outside of finance? Sandy Steier: We will use retail, where there are a couple of interesting use cases. The first is an internal kind of data analysis. Retailers produce a fair amount of data – as we all know – every time a