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Results for: Affiliation IBM Watson Research Center Remove constraint Affiliation: IBM Watson Research Center Keywords Debt -- Management Remove constraint Keywords: Debt -- Management Keywords Markov processes -- Mathematical models Remove constraint Keywords: Markov processes -- Mathematical models

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  • Presentation 
    Optimizing Debt Collections Using Constrained Reinforcement Learning

    Optimizing Debt Collections Using Constrained Reinforcement Learning

    This video was recorded at 16th ACM SIGKDD International Conference on Knowledge Discovery and Data Mining (KDD), Washington 2010. The problem of optimally managing the collections process by taxation authorities is one of prime importance, not only for the revenue it brings but also as a means to administer a fair taxing system. The analogous problem of debt collections management in the private sector, such as banks and credit card companies, is also increasingly gaining attention. With the recent successes in the applications of data analytics and optimization to various business areas, the question arises to what extent such collections processes can be improved by use of leading edge data modeling and optimization techniques. In this paper, we propose and develop a novel approach to this problem based on the framework of constrained Markov Decision Process (MDP), and report on our experience in an actual deployment of a tax collections optimization system at New York State Department of Taxation and Finance (NYS DTF).

    Subjects:
    Management and Computing
    Keywords:
    Markov processes -- Mathematical models Debt -- Management
    Resource Type:
    Presentation
     
    OER