With government programs creating more and more data, traditional reactive investigative and audit techniques no longer deliver the same value to stakeholders and citizens. Outdated legislation and government policy combined with security fears also impede the Oversight community from employing new technologies to take advantage of all this newly created Big Data.
Early analytics adopters in the Oversight community are finding ways to transform how they combat fraud, waste and abuse by integrating analytics into the day-to-day operations of auditors, evaluators and investigators. Elder Research partners with oversight agencies to create effective analytics solutions using the data and infrastructure that is available today.
Our Risk Assessment Data Repository (RADR) is being used by more than a thousand investigators within several agencies to assess risk and detect fraud in health care, contracts and procurement, internal theft, finance, and real estate. Measured returns include monetary recoveries and loss prevention in addition to reduced hours worked per case. Using data-driven insight from a risk analytics model to prioritize cases with the highest risk transforms an organization from reactive to being proactive.
At Elder Research, data analytics consulting is not a one-time solution to a business problem; rather, it is an ongoing process of using data to answer challenging business questions, and to deliver actionable insight to the right user at the right time. The customizable RADR software tool accelerates our ability to deliver fraud, waste and abuse solutions that focus decision making to achieve optimized results.