Fraud or not Fraud? That is the question.
Channel: Jim Scott
Date: 2015-04-16

Speaker Nitesh Kumar, PhD in mathematical finance from University of California, Merced tells us about fraud detection.

Nitesh is a Data Scientist at Skytree and his expertise lies in Machine Learning and Mathematical Finance.

In this talk, we will examine credit card fraud and how machine learning on Big Data can flag future fraudulent transactions. We will show how to select the “best models” based on multiple metrics like the associated cost of fraud, area under the ROC curve etc. We will compare machine learning based fraud detection to traditional fraud detection methods, translating the benefit into cost savings. We will also outline state of the art techniques such as Skytree’s AutoModel feature that can be used to automatically obtain the best model given the data and the objective function without going through a series of tuning runs, truly democratizing data science and machine learning.

The slides that accompany this video can be found on slideshare: http://www.slideshare.net/nkumar_ds/chug-47092097