1 you re responsible for reducing fraud in the online store among the 100 million cu 4464283

1) You’re responsible for reducing fraud in the online store, among the 100 million customer accounts.  Fraudsters break into customer accounts and buy digital goods.  Then they profit by selling these goods elsewhere.  This is costly for us because we have to pay our suppliers the wholesale cost of the stolen goods.  Plus we might even lose business if customers buy the stolen goods rather than purchasing from us.   The fraudsters have gotten pretty good at knowing how much or how little they should steal using a particular account, in order to get past the initial fraud screening.  Nonetheless, you have gotten to the point that you can model pretty well the probability that an account has been compromised.   You also can model pretty well how much you’re likely to lose from a particular account, if it actually were compromised. Management is worried about bothering and alarming the customers, so you should be careful in using your model to target corrective action (verifying transactions; forcing customers to change their password).   Design and explain how you will use models and modeling to decide on which accounts you will take corrective action.   Do not worry about what modeling algorithms you will use; instead focus on what the models will be predicting and how to use those predictions to make decisions.  Define clearly any additional things you need for your design.  Describe clearly any simplifying assumptions you make. 2) Having completed your MSBA, you’ve been hired by Giant Co. to start a data science/analytics operation.  Giant Co. isn’t a hot tech company, but it has exciting opportunities to apply data science methods to solving its problems, but has never built such a team.  Describe the most important 3 challenges you see in building an effective team of top-notch data scientists, and propose ways to address them.

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