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Best Practices for Achieving Success with Custom Modeling and Machine Learning

One of the most common reasons organizations fail to realize significant improvements in risk management after implementing custom modeling solutions can be described with one phrase: Junk in. Junk out. This article discusses best practices as it relates to data management and other factors that are shown to improve performance when it comes to custom

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The Role of Custom Modeling in Lending, Card Issuance and Insurance

Fraudulent insurance claims are responsible for more than $80 billion in losses per year in the United States, leading to higher premiums for all policy holders. It is estimated that card issuers will lose $1.3 billion this year from cards issued to synthetic identities. Total fraud losses from synthetic identities receiving loans and credit cards

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Custom Modeling for Risk Management Requires Human Element, Not Just AI

While there is value in leveraging Artificial Intelligence for modeling and analytics to detect cyber threats and fraud, security professionals are still more likely to indicate that a human touch is more valuable. A recent survey found that half of organizations are making use AI or machine learning but 60 percent put more trust in

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Critical Capabilities that can Enable Custom Modeling Solutions to Improve Business Intelligence

Real-time custom modeling can enhance Business Intelligence capabilities leading to not only improved risk detection, but an overall better understanding of your customers and business, which benefits other areas of the business outside of risk management. Many of the capabilities and features to look for when building or buying custom modeling solutions for risk management

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With Custom Modeling, Deployment is Just as Critical as Design

Whether an organization is building a custom modeling solution in-house, using a service provider or combining both in-house and third party resources, the fundamental components of an effective custom modeling solution are the same. Statistical models must first be created, which requires historical data, a team of modeling experts, as well as the right tools

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The Fraud Practice Offers Free White Paper and Webinar on Custom Modeling & Analytics for eCommerce Merchants

The Fraud Practice is hosting a webinar at 1pm ET on December 4th accompanying the new white paper titled “Enabling Custom Modeling & Analytics for The Modern eCommerce Merchant” which will be released the same day.  The eCommerce market has continued to mature over recent years to the benefit of both consumers and businesses that

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Differentiating Data Analytics from Data Analysis

In an interview with ZDNet, Josh Sullivan, leader of the data science and analytics practice at Booz Allen Hamilton, discusses the importance of human analysis complementing machine analytics. While the focus is on big data for any application, the discussion and points made provide insights and important considerations very relevant to modeling and analytics for

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