Senzing Joins the Loss Prevention Research Council

Senzing is pleased to announce it has joined the Loss Prevention Research Council (LPRC), an organization dedicated to creating a safer world for shoppers and businesses through innovative research and collaboration. The Council brings together an active community of researchers, retailers, solution partners, manufacturers, law enforcement professionals, and more, with over 85 major retail chains representing hundreds of thousands of stores worldwide, including Target, Walmart, OfficeMax, CVS, GAP and Home Depot.

LPRC believes that as retail crime evolves and becomes increasingly sophisticated and aggressive, retailers need innovative solutions to protect their assets, minimize losses and create a safer environment for employees and shoppers. To address these critical needs, the LPRC aims to prevent retail theft and fraud using university-level research and industry collaboration to find evidence-based strategies and solutions.

LPRC is dedicated to applying rigorous scientific methods to prevent retail loss. Through extensive lab and field research, the Council’s team of specialists develops and validates new crime control solutions. Their work includes hundreds of real-world projects conducted in collaboration with members and partners.

“Senzing is proud to support LPRC by contributing to loss prevention innovation that helps retailers power their risk-assessment analyses and investigations with accurate, real-time data,” says Tyler Carter, Head of Retail GTM at Senzing. Dwight Ford, Partner Senior Solutions Architect notes “Our partnership with the Council helps us learn from the industry and accelerate both their mission and ours.”

The heart of LPRC’s operations is the INNOVATE lab at the University of Florida in Gainesville, which serves as a hub for scientific studies, solution testing, and virtual simulations. The Council employs diverse research methods, including randomized field experiments, interviews, focus groups, surveillance footage analysis and statistical modeling. Beyond its core research, LPRC offers proprietary studies, training programs, expert witness services and consulting for both members and non-members in the retail industry.

“Senzing has a long history fighting fraud. Our unique approach to entity resolution enables investigators to get a highly accurate and perpetual view of an individual and their relationships to retail crime organizations, known criminals, specific locations, fences and more,” explains Carter. “Without advanced entity resolution, identifying these relationships is slow and difficult, and many go completely undetected.”

One of the most significant challenges facing retailers today is the sheer quantity and diversity of data that must be analyzed. Data quality problems are endemic and significantly impact fraud detection efforts. Accurate fraud detection requires robust entity resolution to verify identities, identify duplicate records, discover hidden relationships and leverage third-party data.

In addition, monitoring entities in real time for unusual activity is crucial for detecting various types of fraud, including synthetic identity, organized retail crime (ORC), organized retail theft (ORT), new account fraud and first-party fraud. Without advanced real time entity resolution, downstream prevention systems, fraud surveillance and investigations are severely hindered.

Senzing offers the first purpose-built AI for real time entity resolution that delivers the most comprehensive and accurate resolved data. By ingesting entity attributes and using advanced algorithms to overcome the challenges posed by disparate, manipulated or poor-quality data, Senzing enables more accurate Customer 360 views and more effective fraud detection. Asset protection organizations and the solutions providers who support them can leverage the Senzing API to improve interoperability, speed and accuracy when responding to crimes and engaging law enforcement.

By joining LPRC, Senzing aims to gain deeper insights into the challenges retailers face today, using this knowledge to develop innovative solutions. The Senzing team looks forward to participating in LPRC events and taking advantage of valuable opportunities to engage with members, exchange knowledge and foster collaborative partnerships.

For more information on Senzing entity resolution for retail, schedule a meeting with an entity resolution specialist.