(solved) Business Data Analysis

Added on - 21 Apr 2020

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Business Data AnalysisStudent Name:Student Number:Lecturer Name:9thNovember 20171
Table of ContentsExecutive Summary.........................................................................................................................3Introduction......................................................................................................................................4Research Design..............................................................................................................................6Hypothesis Development.................................................................................................................6Statistical Technique and Justification............................................................................................8Results, and Statistical and non-statistical Interpretation................................................................9Analysis and Summary of the Statistical Results..........................................................................14Recommendations..........................................................................................................................15References......................................................................................................................................162
Executive SummaryThis aim of this study was to analyze the credit fraud and identify areas in which the Visa Inc.can improve in their services. A sample of 420 participants was used. Various statistical analysisapproaches were employed to analyze the data. Results showed that the average time lost inresolving a card fraud was found to be 13.65 hours (this is higher than the acceptable time of 12hours). We also found that the number of online credit fraud were significantly more ascompared to the number of offline credit fraud. Lastly, two independent variables were found tosignificantly predict the overall satisfaction of the customers. The two are the response time andthe level of advice. We then suggested the following recommendations to the management ofVisa Inc.Improve on response time; currently the response time is more than the acceptable timeof 12 hours. The management should see on how this time comes down to at most 12hours.Focus more on h0w to decrease the number of online card fraud since it was establishedthat the online transactions are more vulnerable to fraud compared to offline transactions.Continue working on response time and the level of advice given to the customers as theyhave an impact on the overall customers’ satisfaction levels.However, based on the results obtained, both the female and the male clients need to be accordedequal protection in regard to credit fraud. Results showed that there is no significant difference inthe number of frauds experienced by the males and the females.3
IntroductionFrauds committed on credit cards proves to be one of the greatest dangers to businessfoundations today. Notwithstanding, to battle the credit card fraud, it is essential to firstcomprehend the systems of executing the credit fraud. The fraudsters employ a number ofmethodologies to in executing their plans. Credit card fraud can be defined in simple terms as:"A situation where an individual uses someone else’s card for his or her personal reasons at atime when the card owner or the card issuer is not privy that the card is being used. Further, theindividual utilizing the card has no association with the cardholder or the issuer of the card, andhas no aim of either reaching the proprietor of the card or making reimbursements for the buysmade".Frauds are committed in a number of ways;A criminal act of deception (deceive with purpose) by utilization of unapproved accountor potentially individual dataIllegal and or unapproved account utilization for selfish gain.Wrongly presenting account information so as to acquire merchandise as well as services.In spite of mainstream thinking, merchants are much more in danger from frauds committed byuse of cards than the cardholders.While shoppers may confront inconvenience attempting to get a deceitful charge turned around,traders lose the cost of the item sold, pay chargeback expenses, and dread from the danger ofhaving closure of their merchant account.4
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