The Retail Equation Chief Data Scientist David Speights To Present At 25th Annual Acfe Global Fraud Conference

Speights to Provide Insight about the Impact of Big Data on Retail Fraud and Prevention

David Speights, Ph.D., chief data scientist for The Retail Equation, the industry leader in retail transaction optimization solutions, will present at the 25th Annual ACFE Global Fraud Conference on June 16 at 1:40 p.m. CT in San Antonio, Texas. In the session titled “Impact of Big Data Tools on Fraud Identification and Prevention in Retail Transactions,” Speights will discuss the growing role big data and statistics play in a retailer’s approach to loss prevention issues and solutions. According to the recently published ACFE 2014 Global Fraud Study, survey participants estimated the typical organization loses 5 percent of revenues each year to fraud. If applied to the 2013 estimated Gross World Product, this translates to a potential projected global fraud loss of nearly $3.7T.

“It is imperative for retail, or any transaction-processing organization, to use the latest tools to get the most from their analytics function and ultimately improve the bottom line,” said Speights. “I am happy to be here to shed light on how big data tools and predictive analytics can increase business profitability.”

Speights will address how to monitor high-risk retail transactions over time using real-world and proven statistical modeling, big data tools, and predictive analytics and how it can reshape retail loss prevention operations to effectively protect company bottom lines. The session is targeted toward asset protection and fraud prevention professionals, especially in the retail and consumer goods industries, but will be general enough to benefit any organization using massive amounts of data to prevent fraud.

With more than 20 years of industry experience, Speights has a strong track record of enhancing business efficiency through application of statistical models. He has several patents, has built predictive models for more than 20 Fortune 500 companies, and is a frequent speaker on analytics and big data. Speights earned a Ph.D. in Biostatistics from the University of California, Los Angeles.

About The Retail Equation
The Retail Equation, headquartered in Irvine, Calif., optimizes retailers’ revenue and margin by shaping behavior in every customer transaction. The company’s solutions use predictive analytics to turn each individual shopper visit into a more profitable experience. This yields immediate financial payback, increasing store comps by as much as 2 percent, with significant return on investment. The Software-as-a-Service applications operate in more than 27,000 stores in North America, supporting a diverse retail base of specialty apparel, footwear, hard goods, department, big box, auto parts and more. For more information, visit www.theretailequation.com.