External Risk Management With Automated Analytics
- Inspirient automatically analyzed emission measurements of vehicles from various manufacturers
- The system quickly identified how certain manufacturers such as Volkswagen stood out
- This case demonstrates how automated data analytics can shorten reaction time to regulatory risks
Innovation and Benefits for the Customer
With Inspirient’s automated data analytics, it became possible to find patterns relevant to a manufacturer of certain vehicles rapidly, and without relying on a team of business analysts or data scientists. Like in this case, Inspirient can be used as an early warning mechanism, detecting irregularities or performances below-average early on. More importantly, companies can ingest and comprehensively analyze larger data volumes more quickly, thereby translating external data sources into relevant insights with a level of agility that is unfeasible with regular business intelligence solutions. This helps companies react appropriately to external events, and perform adequate damage control early on, thus reducing costs for product recall and litigation significant. Automated analysis merely requires users to point Inspirient’s system to a potentially interesting dataset, but does not depend on technical, analytical know-how.
Usage of Automated Analytics
Inspirient automatically processed and analyzed a set of raw data that was available in CSV format. The dataset consisted of more than 4000 test runs. Inspirient’s software automatically scanned the data for relevant patterns and visualized them on slides, which could directly be discussed by management and legal staff without any additional work necessary in preparing content for a meeting. The slides fuel discussions since all employees can comprehend its information.
The presented case gives an example of how Inspirient’s solution for automated data analytics can identify potential external threats and shorten their response time. This enables companies to better prepare for and manage potential crises.
- United States Environmental Protection Agency (EPA). Data on Cars used for Testing Fuel Economy.
The Inspirient Automated Analytics Engine automates the entire data analytics process end-to-end: From the assignment of input data, pattern and outlier detection, automated visualization of patterns, weak points and opportunities to automatic generation of textual explanations and recognition of the underlying relationships and rules. Most other analytics solutions rarely include these textual explanations and observations regarding the underlying data relations, which are both critical to provide a deeper level of analysis and more actionable conclusions.