Project to replace fraud detection legacy system

Assignment Help Operation Management

Reference no: EM132216250

You are working on a project to replace a fraud detection legacy system. Your team of 2 DS have access to a dataset of financial transactions comprised of 12 months of labeled historical data. The data contains several fields including the timestamp, card number, transaction location, amount, fraud score (from legacy system), and a flag indicating if the transaction was considered fraudulent or not. Your goal is to develop a predictive model that you can deploy in production with a detection rate above 70% while maintaining a low false positive rate of 1%.

How would you structure and plan the team’s work?

Based on the few fields exemplified above, which features would you suggest your team to try out?

The team has been working hard, but seems unable to go above 50% recall at 1% FPR. They can only achieve 70% recall at 1.5% FPR.

How would you handle the situation?

On a lucky strike, after the team introduced one new feature to the model, the performance bumped up to 95% recall at 1% FPR. There is now an increasingly high pressure from the project manager to deploy a model to production asap.

How would you advise the DS team?

How would you advise the project manager?

Reference no: EM132216250

Questions Cloud

How a denial of service attack works : Explain how a Denial of Service (DoS) attack works. After describing a DoS conduct some research and provide an example of a real company or website.

You also manage other teams working on shorter projects : You also manage other teams working on shorter projects, and this issue has not occurred on any of them.

What is the optimal order size for home depot : a) What is the optimal order size for Home Depot? b) How many orders does Home Depot place per year when it uses optimal order size?

Write checklist for diving in and threat modeling : Write a 2 pages assignment on checklist for diving in and threat modeling. For security architecture and design subject. The response must be typed.

Project to replace fraud detection legacy system : You are working on a project to replace a fraud detection legacy system.

Does your state legislature have two houses or one : John Locke's answer was: "that the rights in the state of nature are constantly exposed to the attacks of others.

How would i calculate to find the cp and cpk : The specifications for this process are USL = 150, LSL = 100. How would I calculate to find the Cp and Cpk?

What can you determine about the corporate culture : What can you determine about the corporate culture from the fact that they waited this long to consider the development of an EPM system?

Culturally contingent behavior that varies across cultures : Identify a culturally contingent behavior that varies across cultures.

User Account

All Pages