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 data science fuel fraud prevention


How Data Science Fuels Fraud Prevention - KDnuggets

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Like an Oklahoman megafarmer being approached by a fracking company, most ecommerce companies don't know how much potential value they are sitting on. Data mining has been touted as the new oil rush for some 15 years now, but the methods of refining the crude, raw data are still being discovered, as are the mechanisms we can fuel with it. Many ecommerce companies are familiar with applying the data they harvest from their incoming traffic to functions like customer segmentation and targeted marketing. Of course, these are ideas that are at the top of the profit yield checklist, but part of generating an impressive profit is also mitigating losses to fraud – an increasing concern year on year. Regardless of what security provider you turn to, the layers of protection that it delivers will start with data.