Skip to main content

LUP Student Papers

LUND UNIVERSITY LIBRARIES

Machine Learning in Risk Management Applications

Göransson, Tim LU (2023) DABN01 20231
Department of Economics
Department of Statistics
Abstract
Risk Management is a broad domain that has many applications in different industries and organizations. There are many competing guidelines and overarching frameworks that describe workflow and best practice in various subdomains. The objective of this thesis is to explore how machine learning algorithms can be used in general terms of risk management frameworks in support of risk assessment with regards to established guidelines and workflows, specifically in the context of predictive maintenance for classifying machine failure. The findings suggest that the use of sampling techniques is an effective way of addressing class imbalance issues and that the classification techniques used offer good interpretability and can be used in support... (More)
Risk Management is a broad domain that has many applications in different industries and organizations. There are many competing guidelines and overarching frameworks that describe workflow and best practice in various subdomains. The objective of this thesis is to explore how machine learning algorithms can be used in general terms of risk management frameworks in support of risk assessment with regards to established guidelines and workflows, specifically in the context of predictive maintenance for classifying machine failure. The findings suggest that the use of sampling techniques is an effective way of addressing class imbalance issues and that the classification techniques used offer good interpretability and can be used in support of risk management frameworks. (Less)
Please use this url to cite or link to this publication:
author
Göransson, Tim LU
supervisor
organization
course
DABN01 20231
year
type
H1 - Master's Degree (One Year)
subject
keywords
Machine Learning, Risk Management, Classification, Predictive Maintenance, Model Interpretability
language
English
id
9140864
date added to LUP
2023-11-21 12:53:54
date last changed
2023-11-21 12:53:54
@misc{9140864,
  abstract     = {{Risk Management is a broad domain that has many applications in different industries and organizations. There are many competing guidelines and overarching frameworks that describe workflow and best practice in various subdomains. The objective of this thesis is to explore how machine learning algorithms can be used in general terms of risk management frameworks in support of risk assessment with regards to established guidelines and workflows, specifically in the context of predictive maintenance for classifying machine failure. The findings suggest that the use of sampling techniques is an effective way of addressing class imbalance issues and that the classification techniques used offer good interpretability and can be used in support of risk management frameworks.}},
  author       = {{Göransson, Tim}},
  language     = {{eng}},
  note         = {{Student Paper}},
  title        = {{Machine Learning in Risk Management Applications}},
  year         = {{2023}},
}