Editing Analytics (section)

=== Risk analytics ===
Predictive models in the banking industry are developed to bring certainty across the risk scores for individual customers. [[Credit score]]s are built to predict an individual's delinquency behavior and are widely used to evaluate the credit worthiness of each applicant.<ref>{{Cite web|title=Credit Reports and Scores {{!}} USAGov|url=https://www.usa.gov/credit-reports|access-date=2022-01-09|website=www.usa.gov|language=en|archive-date=January 8, 2022|archive-url=https://web.archive.org/web/20220108192256/https://www.usa.gov/credit-reports|url-status=live}}</ref> Furthermore, risk analyses are carried out in the scientific world<ref>{{Cite journal|last1=Mayernik|first1=Matthew S.|last2=Breseman|first2=Kelsey|last3=Downs|first3=Robert R.|last4=Duerr|first4=Ruth|last5=Garretson|first5=Alexis|last6=Hou|first6=Chung-Yi (Sophie)|last7=Committee|first7=Environmental Data Governance Initiative (EDGI) and Earth Science Information Partners (ESIP) Data Stewardship|date=2020-03-12|title=Risk Assessment for Scientific Data|journal=Data Science Journal|language=en|volume=19|issue=1|pages=10|doi=10.5334/dsj-2020-010|s2cid=215873228|issn=1683-1470|doi-access=free}}</ref> and the insurance industry.<ref>{{Cite web|date=2020-10-28|title=Predictive Analytics in Insurance: Types, Tools, and the Future|url=https://online.maryville.edu/blog/predictive-analytics-in-insurance/|access-date=2022-01-09|website=Maryville Online|language=en-US|archive-date=January 10, 2022|archive-url=https://web.archive.org/web/20220110151505/https://online.maryville.edu/blog/predictive-analytics-in-insurance/|url-status=live}}</ref> It is also extensively used in financial institutions like [[online payment]] gateway companies to analyse if a transaction was genuine or fraud.<ref>{{Cite journal|last1=Liébana-Cabanillas|first1=Francisco|last2=Singh|first2=Nidhi|last3=Kalinic|first3=Zoran|last4=Carvajal-Trujillo|first4=Elena|date=2021-06-01|title=Examining the determinants of continuance intention to use and the moderating effect of the gender and age of users of NFC mobile payments: a multi-analytical approach|url=https://doi.org/10.1007/s10799-021-00328-6|journal=Information Technology and Management|language=en|volume=22|issue=2|pages=133–161|doi=10.1007/s10799-021-00328-6|s2cid=234834347|issn=1573-7667|url-access=subscription}}</ref> For this purpose, they use the transaction history of the customer. This is more commonly used in Credit Card purchases, when there is a sudden spike in the customer transaction volume the customer gets a call of confirmation if the transaction was initiated by him/her. This helps in reducing loss due to such circumstances.<ref>{{Cite web|last=Crail|first=Chauncey|date=2021-03-09|title=How to Enable Mobile Credit Card Alerts for Purchases and Fraud|url=https://www.forbes.com/advisor/credit-cards/how-to-enable-mobile-credit-card-alerts-for-purchases-and-fraud/|access-date=2022-01-09|website=Forbes Advisor|language=en-US|archive-date=January 10, 2022|archive-url=https://web.archive.org/web/20220110153005/https://www.forbes.com/advisor/credit-cards/how-to-enable-mobile-credit-card-alerts-for-purchases-and-fraud/|url-status=live}}</ref>