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Anomaly Detection

What is Anomaly Detection?‚Äč

Anomaly detection is a powerful technique used to identify rare events or observations that differ significantly from the rest of the data. This technique is particularly useful in finance, where thousands or millions of transactions need to be monitored for potential errors or fraudulent activity. By quickly identifying anomalies, root cause analysis can be enhanced, and support can be provided to resolve the issue.

Anomaly detection is also critical to the monitoring cause of chaos engineering, as it helps detect outliers and informs responsible parties to take action. With the increasing use of machine learning and AI, anomaly detection is becoming an essential tool for fraud detection and Anti-Money Laundering (AML).