Many companies overlook managing their risk until it is too late. The ability to accurately manage risk, whether it be insurance risk from natural disasters or financial risk is crucial, especially in today’s economic climate. Exposing risk and responding quickly to trends is imperative for successful operations. Risk that is not correctly analyzed and handled, may lead to substantial losses or even closure.
Points Location Intelligence assists in managing risk by providing another decision-making tool in the form of location intelligence to manage risk.Fraud analysis becomes far more efficient and effective when intelligent maps are utilized to understand fraud frequency, trends, occurrences and their location. Uncovering fraud demands all available intelligence resources, yet only recently have maps become an integral resource and tool. Uncovering fraud starts with the ability to monitor suspect transactions (credit card companies) since suspicious activity is often location related, making it virtually impossible to accurately monitor and analyze without real-time visualization on maps. Location intelligence is required to manage risk and analyze fraud by answering the following questions:
- Where are the high risk areas?
- Why is this credit card suddenly being used out of its “home grounds?”
- What will happen if this low lying town is flooded?
- Where are contractor companies going bankrupt most?
- Which areas have the most bad debt?
- Which demographic areas are responding worst to the sub-prime crisis?
In order to answer the above questions, monitor, manage and analyze risk and fraud, Points Location Intelligence provides crucial decision-making intelligent tools and analyses within your company.