Cost Estimates: 3 machines, 1 shared memory 6 machines per state 1 server Machine Cost, Server cost & Shared memory cost: $100,000 – one time investment Back up machines: 50 ~ $15,000 Server Maintenance Cost: $20,000 per year Total Cost incurred: $115,000 one time + $20,000 per year maintenance
Product 1 – 3 Scale rating Aim to classify any new transaction as fraudulent or not on the basis of the rating. Any transaction with an average rating of 2.7 or more is flagged “RED” indicating with more than 90% evidence. Alert sent to the Bank and Customer immediately. Evaluation is done real time.
Product Pricing 2 months to analyse the data. 4 months to build models and test and improve. Project Requires – 12 Analysts, 2 Managers Cost To Company for employees: - $504,000 + $120,000 = $624,000 Additional Expenses approximately $300,000. Price of building Product: Approx $924,000
Results: $16 million saving!! 25 20 20 15 Initial Losses 10 After 4 5 implementation 0 Initial Losses After implementation
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