What are the applications of anomaly detection?

What are the applications of anomaly detection?

Anomaly detection is used in various fields like finance for fraud detection, healthcare for disease outbreak monitoring, and cybersecurity to identify breaches.

Can you give me an example in finance?

Sure! In finance, anomaly detection can identify unusual transactions that may indicate fraudulent activity, helping to prevent financial losses.

What about its use in healthcare?

In healthcare, it can detect anomalies in patient data, which may indicate potential health issues or outbreaks of diseases.

Are there any applications in manufacturing?

Yes, in manufacturing, anomaly detection can monitor equipment performance to predict failures and reduce downtime.

How does it work technically?

Technically, anomaly detection uses statistical methods, machine learning algorithms, or deep learning to identify patterns and flag deviations from the norm.