Predictive Model Utilising Big Data Analytics

Running head: PREDICTIVE MODEL UTILISING BIG DATA ANALYTICS
PREDICTIVE MODEL UTILISING BIG DATA ANALYTICS
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PREDICTIVE MODEL UTILISING BIG DATA ANALYTICS
Abstract
The predictive model is defined as a process used for finding future
outcomes and evaluating the gathered information. In this generation,
the credit card and online net banking frauds both are common issues
faced by the consumers that impact on the personal data of the
consumers. This research mainly focuses on the fraudulent credit cards
and banking issues faced by the consumers and the importance of
predictive models in the reduction of such problems. The adopted
research methods included various techniques and approaches, for
example, qualitative design, inductive approach, research strategy,
secondary data collection and content analysis method. The conducted
literature review shows the findings of previous articles and provided
information about predictive models and techniques for reducing fraud
cases. It is found that data mining and big data both are effective
techniques that can be used as predictive models in order to reduce
fraud credit cards and net banking related issues. This research study
provided a way of understanding and evaluating predictive models and
big data analytics for detecting frauds from the systems.

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PREDICTIVE MODEL UTILISING BIG DATA ANALYTICS
Table of Contents
Introduction..........................................................................................................................3
Research Aims and Objectives......................................................................................3
Research Questions...........................................................................................................4
Literature Review...............................................................................................................4
Proposed Methodology.....................................................................................................7
Research philosophy......................................................................................................8
Research approach.........................................................................................................8
Research design..............................................................................................................8
Data collection technique............................................................................................9
Data analysis.....................................................................................................................9
Discussion and implication of research......................................................................................9
Conclusion................................................................................................................................10
References...........................................................................................................................11

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PREDICTIVE MODEL UTILISING BIG DATA ANALYTICS
Introduction
The term predictive analytics is a kind of process which is mainly
utilized for finding patterns and predicts future outcomes and trends.
Mainly, it does not provide any information related to future trends and
utilizes both advance and historical data in order to forecast trends,
behaviour and activities (Raghupathi, & Raghupathi, 2014). It is observed
that predictive analytics includes statistical analysis methods and
automated machine learning programs in order to produce predictive
models. Big data is an effective technology used by the companies for
controlling and analysing the gathered data. It is observed that big data
is now used in the predictive analytics for analysing the collected data in
an effective manner.
The goal of this study is to examine the importance of big data
technology in the context of predictive analytics. In this investigation, a
literature review will be developed in order to analyse the results of
previous papers based on predictive analytics. The fraud of the credit
card and the net banking upon the internet is considered to be a problem
which is international within the particular domain of banking. In the
year 2014, it has been found that the global fraud has been accounted for
a huge loss of about $16.31 and this particular figure is seen to be
incrementing day after day. This is because all the fraudsters are highly
developing a number of full new analytics for altering the normal
behaviour of working in the fraud detection system of the credit card.
This report will focus on predictive models in order to identify fraud
cases related to the banking sectors and credit cards.
Research Aims and Objectives
It is argued that the issues of fraud credit cards are growing rapidly
and many consumers are suffering from such problems. This research
provides a way of predicting and identifying fraud cases and banking
related issues faced by the users and evaluate the significance of big data
technology in the area of predictive analytics. There are numerous aims
and objectives of this investigation which are described below: