Data Extrapolation- Reed & Associates, CPAs
-
Upload
reedassociatescpas -
Category
Technology
-
view
135 -
download
1
Transcript of Data Extrapolation- Reed & Associates, CPAs
ACTIONABLE ANALYTICS
PAGE 2
THANK YOU FOR VIEWING!
Please feel free to contact us at [email protected]
with any questions or feedback you may have!
PAGE 3
WHAT ARE
ACTIONABLE ANALYTICS?
Collect Data
Synthesize Data
Analyze Data
Actionable Information
PAGE 4
ACTIONABLE ANALYTICS
Data Collections come in all sizes, quality & formats
Moving ten thousand records is easy – what about billions of rows of data?
The old adage of “Garbage In = Garbage Out” has never been more true or more critical
Ingesting Structured or Well-Defined data (XML, CSV, text) has been done for years… How about ill-defined or unstructured data sets
Remember - Each Data Collection is different
Specific levels of confidentiality
Business Rule & Information Context
Collect
Synthesize
Analyze
Load
Transform
Extract
PAGE 5
Once the data is collected
Need to remove invalid or imprecise data (Data Cleansing)
Business rules separate the inaccurate, incorrect or potentially fraudulent from the valid records –understanding the business rules are key
Data mining provides Context through different perspectives, dimensions & across different relationships
Used to locate patterns & develop hypotheses
Collect
Synthesize
Analyze
ACTIONABLE ANALYTICS
PAGE 6
Collect
Synthesize
Analyze
ACTIONABLE ANALYTICS
Data Mining & Analytics Tools & Technology
Decision Trees
PAGE 7
Collect
Synthesize
Analyze
ACTIONABLE ANALYTICS
Data Mining & Analytics Tools & Technology
Regression Analysis
PAGE 8
Collect
Synthesize
Analyze
ACTIONABLE ANALYTICS
Peer Grouping Cluster Analysis
Data Mining & Analytics Tools & Technology
PAGE 9
ACTIONABLE ANALYTICS
Collect
Synthesize
Analyze
Use Tools & Technology to
Determine where the exceptions are
Validate are the relationships correct / valid
Test the Hypothesis
Use Iterative processes to
Complete business process reviews
Identify outliers
PAGE 10
ACTIONABLE ANALYTICS
The Value of Predictive Modeling
Machine Learning
Pattern Recognition
Predictive Modeling
The human brain can only closely examine 6 to 8 variables at a time to profile a problem.
Predictive analytics programs analyze hundreds of variables to make a diagnosis or a prediction of risk.
Collect
Synthesize
Analyze
PAGE 11
ACTIONABLE ANALYTICS
Predictive Modeling helps:
Define strategic business objectives based on data collected
Forecast the future, based on the past
Increase revenue, cuts costs or both
Identify opportunities, weaknesses & outliers
Improve business applications & processes
Collect
Synthesize
Analyze
PAGE 12
ACTIONABLE ANALYTICS
Three “Rs” of Predictive Modeling
Reliable accuracy of
your predictive
model
Repeatable results & processes
Relatable to business strategies &
needs
Collect
Synthesize
Analyze
PAGE 13
ACTIONABLE ANALYTICS
Use Actionable Analytics
Identify the likelihood of FWA
Highlight the relationships between data & process
Reduce the “false positives”
Focus effort on high-probability targets
Project likelihood of occurrence & reoccurrence (Predictive Analytics)
Identify procedural failures
Produce Information you can Act on
Actionable Information
PAGE 14
THE REED SOLUTION
Tools & Technologies
Government Healthcare
SMEs
Audit (Investigative)
Processes
Reed’s value is
providing the
Context &
Expertise
PAGE 15
THE REED SOLUTION
Simple process to receive and retrieve any type of data (Secure Portal: HIPAA and FEPS Compliant)
Powerful tools to synthesize & cleanse data
Subject Matter Experts in government healthcare and data analytics to maximize the data value & context (business & data analytics SMEs)
Customizable, configurable & user friendly dashboards to provide Actionable Analytics
PAGE 16
CONTACT US
For additional information
please contact us
at
860-395-1996
or via email at