How to optimize ML fraud detection: A guide to monitoring & performance
Fraud detection is a crucial aspect of data science, with increasing demand due to rising fraud cases and advanced techniques used by fraudsters. In recent years, AI-powered fraud detection systems have been widely adopted for their precision, cost-effectiveness, and operational efficiency. This article discusses various fraud detection techniques using data monitoring and machine learning predictive models. It covers descriptive statistics, handling missing values, identifying outliers, and applying Benford's law to detect anomalous records. The article also explores AI predictive modeling techniques such as linear regression, logistic regression, decision trees, neural networks, and ensemble methods like random forest. Additionally, it highlights the importance of monitoring metrics like confusion matrix, AUC-ROC curve, and using tools like Aporia for robust ML monitoring and explainability in fraud detection models.
Company
Aporia
Date published
Aug. 27, 2023
Author(s)
Noa Azaria
Word count
1737
Hacker News points
None found.
Language
English