Shrinking Retail Shrink
Using analytics to help detect fraud and grow margins
Retail industry implementation of innovations in fraud prevention may have slowed just as criminal activity and innovations in committing fraud speeded up. Retailers can benefit from implementing a holistic fraud framework, continuously innovating in fraud management strategies.
Staying one step ahead of fraudsters is the key to protecting your company’s hard-earned assets and reputation. Implementing data analytics into all elements of your fraud framework can help you find patterns, trends and anomalies in your data. It can help you to detect a broader range of exposure, including previously unknown risks, and uncover new patterns of fraud.
This article describes how retailers can use new technologies such as data analytics to help them detect more fraud and improve margins in an increasingly challenging economic environment.
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