Abstract
The term big data was started in the year of 2012 and since then it has emerged as one of the top trends in the business and technology world. Big data is referred to as massive amounts of data or information in business and technology. Many organizations are collecting, storing, and analyzing vast amounts of data in today's world. This data is commonly referred to as big data due to its volume, velocity, and variety of forms it takes. Businesses are recognizing the potentiality of big data and processing it to analyze the business. The development of big data tools has a significant impact on managerial decision-making in modern business. The key to success in big data implementation includes a clear business objective, a strong data infrastructure, skilled people, a strong decision-making team, and the correct analytical tools. The main objective of this chapter is to find the challenges, and implementation of big data, and how big data revolutionizes fraud detection and prevention methods in modern business.
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