5 Benefits of Anomaly Analysis

Anomaly analysis refers to the practice of studying a subject’s performance and behavior to discover data that seems to be irregular, or goes contrary to the trend or pattern. Such deviations from ‘normal’ data are called anomalies or outliers. When detected, data analysts, whether humans or machines, notify users in real-time, allowing for further investigation.

Anomaly detection, often used interchangeably or alongside anomaly analysis, can only happen when the mechanisms are in place for identifying it. That’s why artificial intelligence and machine learning systems often use deep learning algorithms in multiple software products.

Anomaly analysis benefits all entities in several ways, and this article explores some of its most valuable contributions. However, it’s essential to understand the anomaly analysis process first.

How Does the Anomaly Analysis Process Go?

When using this, most users expect flawless operations, particularly businesses aiming to grow their ventures. For this and many other reasons, software product manufacturers embed anomaly analytics in their systems. That’s why software developers are adept at

Most organizations use an anomaly-based intrusion detection system (IDS). This tool is tailor-made to spot and prevent malicious activities within a computer network. Also known as network behavior anomaly detection, the system works by monitoring computer and network activities for deviations in its uses and activities, whether originating from internal or external sources. Both individual users and the network can avail of this type of protection. Malware detection is another anomaly analysis-based security tool to strengthen security measures.

2. Preventing Security Breaches

Some malicious attacks are so sophisticated, accessing systems without being detected. The 2019 Cost of Data Breach report by a technology industry giant revealed that it takes an average of 206 days to detect a security breach. This means that hackers can inflict more damages while staying undetected. Anomaly-analysis-driven technologies help prevent security breaches by continuously scanning your system’s data and notifying users of any irregularity in real-time.

3. Simplifying and Enhancing Business Intelligence Processes

Businesses rely on automation to streamline most of their processes. As a result, intelligent business decisions rely on analyzing different types of data on business performance and consumer behavior, among a few other things.

AI algorithms can gather several types of data, including metrics that can be compared against key performance indicators using an anomaly analysis system. By studying what works and doesn’t, your organization can craft more effective marketing and sales strategies that drive growth, streamlining and enhancing your business intelligence objectives.

4. Identifying Fraud

The financial sector is one of the most vulnerable industries. As part of preventing hackers, an institution’s security defense must detect fraud. Anomaly-detection-driven machines and AI embedded in their systems can help analyze whether transactions are valid or not. While it can’t guarantee complete protection against fraud, AI often gets better and can improve its anomaly detection systems.

Some social networking platforms also use anomaly detection mechanisms in determining online hackers, fake users, trolls, and sexual predators.

5. Improved Medical Outcomes

Apart from the financial sector, the healthcare industry has likewise benefitted from AI technologies. In this case, medical specialists can use the system to identify anomalies in medical records and images to help doctors with accurate diagnostics. With proper diagnostics, physicians can provide the appropriate care and treatment methods to their patients, enhancing patient outcomes.

Endnote

Since people are spending time on mobile phones, laptops, and using software applications, the risks of damaging online attacks are increasing. The importance of anomaly analysis is invaluable in protecting users and ensuring smooth operations.

Due to their many uses, anomaly analysis and detection are vital tools for all entities using technology for various applications. This essential data analytics method can help detect and prevent security issues and fraud, and ultimately helps organizations improve their performance and outcomes.


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Source:Noobs Lab