With Target’s loss of millions of credit cards along with the vital information of clientele to hackers last year, the search for security and safety has been doubled up. The huge computer corporation, IBM has now solved the problem in one fell swoop. Big data analytics are to be employed in the quest to reduce and annihilate the $3.5 trillion loss per year due to online fraud and cyber crimes.
It is a very fine and calculated methodology that informs the organizations and keeps them abreast of the designs and wiles of hackers. The scope of the software is actually a multipronged approach. IBM with its Smarter Counter Fraud Initiative is hopeful that the culprits will be outwitted soon enough and online businesses can proceed without a single worry.
"With today's news, IBM is applying many of the same tactics, techniques and procedures used by the intelligence and law enforcement communities to help commercial organizations take a holistic view of this growing and pervasive threat," said Robert Griffin, Vice President, IBM Industry Solutions.
"These technologies allow line of business leaders to quickly adapt to emerging threats across the entire organization. Our new initiative puts Big Data and Analytics into the hands of those tasked with defending their organizations from financial losses, protecting the brand and delivering exceptional customer service."
For its research analysis, IBM obtained the help of 500 consultants and perused 290 curative patents. Over $24 billion were siphoned off into this experiment which has proven to be a success. The hackers and evil elements on the Internet are getting smarter and smarter. As each day passes their malignant ways have become super-sharp and they find chinks in the armor of online businesses.
But with this novel program by IBM, things are going to change for sure. There are four fronts on which the shield will defend against fraud and attacks by the artful hackers. They are: the medical, occupational, tax and insurance levels. IBM is positively convinced that the complexity of this protection against criminality will prove to be a surefire solution for the global business community.
The Net environment is still in its formative phases due to which the nefarious designs of hackers often succeed. All that is to undergo a radical shift in its power balance. The hackers will from now onwards be on the losing side. And you can count on that!