NEO Bank detecting fraud

Business Problem:

Fraud is causing banks and their customers to suffer losses

Business Goal:

To prevent and detect fraud

Data Mining Goal:

To identify/predict fraud based on transactions pattern

Phase 3:

What are the key tasks involved in Phase 3?

Phase 6:

Assume that you have identified a model that is ready for deployment.

• Give an example of information/knowledge that can be obtained from the model.
• How can the information be used to solve the business problem?