The Internet 2.0 Conference is preparing to host its Winter Edition in Las Vegas and Dubai, where several industry experts and tech leaders will unite to explore the future of technology. This three-day conference offers many opportunities to learn, get inspired, and grow your business, from big data analytics and cloud computing to enterprise mobility.
Internet 2.0 Conference’s Agenda Highlights Fraud
The Internet 2.0 Conference’s upcoming edition will include well-known attendees and fresh faces who will grace the event with their knowledge of the technology and inspiring stories. The attendees will be given a chance to learn from renowned speakers as they indulge in exclusive discussions about tech-driven topics such as big data analytics and fraud prevention tactics.
Why is fraud prevention included in the Internet 2.0 Conference’s agenda? Fraud is a massive issue, regardless of the business niche. But for online retailers, it is a topic of hot discussion. Let’s understand why.
It’s estimated that companies lose $100 billion annually due to fraud, which comes to around 3% of all e-commerce transactions. This figure is estimated to see a spike in the future as more people turn to the internet to indulge in business and make purchases. It goes without saying that with the advancement of technology, adversaries committing fraud will also increase. This is why eCommerce businesses must walk hand-in-hand with these trends and learn not to fall prey to fraudsters.
The Internet 2.0 Conference aims to bring together corporate executives and industry specialists to debate the most recent trends in fraud prevention in light of these advances. In addition to discussing how businesses might lessen their dependence on external services to have more control over transactions, it will explore ways businesses can defend themselves against assaults of fraudsters.
Big Data Analytics Garnering A Lot Of Attention, Particularly From Cybersecurity Experts
Here’s why:
- It helps businesses understand their consumers’ preferences and wants, which eventually enhances their interaction with them. By doing so, consumers will feel valued and more loyal to the brand, increasing the business’s revenue.
- Big data analytics offers insights into what is happening within a firm at any given time, enabling it to detect fraud earlier than ever! Let’s say, for instance, that a vast number of transactions are coming from one area at an odd time (e.g., during non-working hours). In that situation, this might be a sign that someone compromised a worker’s computer or account credentials so they could engage in fraudulent activity at work without anyone else seeing it.
- By using big data analytics, businesses can better understand their customers. For example, suppose someone buys many products from you but never makes a purchase again after completing their first order. In that case, the chances are they can utilize your company to resell products on eBay or Amazon. As a result of the client switching to being someone else’s customer and no longer purchasing products from you, you lose money.
The History Of Big Data Analytics
The term data science was introduced around the 1950s. It refers to a discipline that combines computer science, statistics, and other fields to extract knowledge from data. Data scientists use statistical modeling to predict outcomes, create visualizations of complex systems and develop algorithms for machine learning.
The existence of big data can be traced to the 1990s, though many credit John Mashey for popularizing it. A significant quantity of data, kno