Data Science and Machine Learning for Preventing Fraud in Mom and Pop Ecommerce Shops

With the development and growth of ecommerce platforms like Shopify, the number of small- and medium- sized ecommerce businesses is growing at an impressive rate. But, with this growth comes a growth in market opportunities for the online villains and fraudsters out there who are looking to make a quick buck. It used to be that only huge corporations had the resources they needed to detect fraud and protect themselves from its damages. But, in this era of big data and data science for all, even small mom and pop ecommerce shops have access to the tools they need to protect themselves from evil fraudsters. This article introduces some common sources of fraud problems in ecommerce, and how you can use data science technologies or techniques to protect your business (or soon-to-be business) from risk.