---
title: "Mitigating Risk With External Data, A Guide For CROs"
description: "In this whitepaper you'll learn why internal data sources are no match for the rising costs of fraud, how to leverage ML risk models to minimize risk and more."
canonical: "https://www.explorium.ai/resource/mitigating-risk-with-external-data-a-guide-for-cros/"
last-updated: "2023-04-17"
---

# Mitigating Risk With External Data, A Guide For CROs

> In this whitepaper you'll learn why internal data sources are no match for the rising costs of fraud, how to leverage ML risk models to minimize risk and more.

- Canonical URL: https://www.explorium.ai/resource/mitigating-risk-with-external-data-a-guide-for-cros/
- Last updated: 2023-04-17

**Every CRO Needs Better Data in This Time of Uncertainty**

Your organization’s risk management strategies are going to need a major overhaul. Insights from your historical data simply won’t be enough to help you assess the risks that are coming your way. You need to look at sources outside your organization.

In this guide, we reveal how and why external data improves your machine learning risk models by reducing risk, improving accuracy, and enhancing your decision-making process.

**In this guide you’ll learn:**

 	- Why internal data sources are no match for the rising costs of fraud

 	- How to leverage machine learning risk models to minimize risk

 	- When to combine historical datasets with outside, contextual data

 	-  What types of external data deliver game-changing benefits for anomaly detection, fraud prevention, and credit risk scoring