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Blog Description:

Elder Research is a recognized leader in the science, practice, and technology of advanced analytics. Topics on our blog cover analytics tips, analytical modeling, data and text mining tools, data visualization, analytics best practices, case studies, etc. to provide business leaders with actionable information on real world analytics problems.
Related URL: Elder Research Analytics & Data Science Whitepapers

Download white papers focused on providing information on the practical application of advanced analytics to uncover actionable insight to solve real-world business problems.
Related URL: Case Studies - Elder Research

Elder Research predictive analytics and data science consultancy case studies available for download.
Related URL: eBooks - Elder Research

Elder Research predictive analytics and data science consultancy eBooks available for download.
Blog Added: March 14, 2017 04:52:18 PM
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Blog Platform: WordPress
Blog Country: United-States/Virginia   United-States/Virginia
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Total Visits: 1,412
Blog Rating: 3.20
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Analytics Help Identify the Early Stages of a Stroke

In many medical emergencies, such as a stroke, survivability requires fast diagnosis and treatment. But diagnosis may depend on a test that uses bulky, expensive equipment, such as the radiological imaging test that serves as a “gold standard” stroke test. That test is impractical in the field though, so a reliable portable test would be of great value. Data science offers a solution. Through the information embedded in a biological quantity known as gene expression, a data model can...

BLOG_Analytics Help Identify the Early Stages of a Stroke.jpg

In many medical emergencies, such as a stroke, survivability requires fast diagnosis and treatment. But diagnosis may depend on a test that uses bulky, expensive equipment, such as the radiological imaging test that serves as a “gold standard” stroke test. That test is impractical in the field though, so a reliable portable test would be of great value. Data science offers a solution. Through the information embedded in a biological quantity known as gene expression, a data model can efficiently classify whether a patient is currently undergoing a stroke. This blog will discuss, specifically, the use of k-Nearest Neighbors (KNN) and Principal Component Analysis (PCA) to isolate a small number of genes whose combined expression levels might indicate a stroke is in progress. This can provide an alternative way to identify stroke victims, with lower equipment requirements than traditional radiological imaging. 



Predictive Maintenance Optimizes Gas Well Production

To offset the fluctuations in the cost of oil, the oil and gas industry looks for improved efficiencies in all parts of its production chain. Predictive analytics leverages the large volumes and variety of historical well data to find critical patterns to improve performance, reduce losses, enable operators to be more proactive in field operations, and reduce operational costs. This article describes how sensor analytics and predictive maintenance helped to prioritize gas well...

BLOG_Predictive-Maintenance-Optimizes-Gas-Well-Maintenance-Schedules.jpg

To offset the fluctuations in the cost of oil, the oil and gas industry looks for improved efficiencies in all parts of its production chain. Predictive analytics leverages the large volumes and variety of historical well data to find critical patterns to improve performance, reduce losses, enable operators to be more proactive in field operations, and reduce operational costs.

This article describes how sensor analytics and predictive maintenance helped to prioritize gas well intervention to reduce downhole freeze events and reduce remediation cost.  



COPS: A Data-driven Solution for Pharmacy Fraud Detection

Prescription drug fraud is a costly problem for health insurance providers, but identifying perpetrators can be extremely difficult. Staying ahead of ever-evolving fraud risks and proactively identifying and investigating active threats can be a challenge for insurance providers, Pharmacy Benefit Managers, Managed Care Organizations, and regional pharmacies. The many different actors and schemes involved, varying state regulations and oversight, and compliance with privacy laws all...

BLOG_COPS Pharmacy Fraud Detection Solution_1.jpg

Prescription drug fraud is a costly problem for health insurance providers, but identifying perpetrators can be extremely difficult. Staying ahead of ever-evolving fraud risks and proactively identifying and investigating active threats can be a challenge for insurance providers, Pharmacy Benefit Managers, Managed Care Organizations, and regional pharmacies. The many different actors and schemes involved, varying state regulations and oversight, and compliance with privacy laws all contribute to the challenge of detecting and preventing prescription drug fraud.



Made-to-Measure Analytics in the Automation Age

In recent months, Artificial Intelligence (AI) has leapt off the pages of Science Fiction and into the headlines. The Economist  focused an entire Technology Quarterly on the dramatic advances made possible through Machine Learning. Recent articles by Tom Davenport in Harvard Business Review and Deloitte have pushed moving beyond the “artisanal,” human-driven analytics of the past toward a bountiful, automated future. With talented Data Scientists scarce but vital, the value...

BLOG_Made-To-Measure-Analytics.jpg

In recent months, Artificial Intelligence (AI) has leapt off the pages of Science Fiction and into the headlines. The Economist  focused an entire Technology Quarterly on the dramatic advances made possible through Machine Learning. Recent articles by Tom Davenport in Harvard Business Review and Deloitte have pushed moving beyond the “artisanal,” human-driven analytics of the past toward a bountiful, automated future. With talented Data Scientists scarce but vital, the value proposition for AI seems to be clear. So, should companies hire Data Scientists (especially consultants) if the computer can do all the work?



Improving Workers' Compensation Fraud Detection

Excessive or redundant medical services, medical coding errors, improper billing, as well as outright fraud, continue to be significant challenges for health insurers. The National Health Care Anti-Fraud Association (NHCAA) estimates that the financial losses due to health care fraud are in the tens of billions of dollars each year. The 2017 National Healthcare Fraud Takedown conducted by the Department of Health and Human Services Office of Inspector General was the largest health care fraud...

BLOG_Improving-Workers-Compensation-Fraud-Detection.jpg

Excessive or redundant medical services, medical coding errors, improper billing, as well as outright fraud, continue to be significant challenges for health insurers. The National Health Care Anti-Fraud Association (NHCAA) estimates that the financial losses due to health care fraud are in the tens of billions of dollars each year. The 2017 National Healthcare Fraud Takedown conducted by the Department of Health and Human Services Office of Inspector General was the largest health care fraud takedown in history with about $1.3 billion in identified false billings to Medicare and Medicaid.

Healthcare fraud is very difficult to detect because a variety of nuanced methods are employed, investigative evidence is often buried in text documents, and there can be collusion among network providers.

A national workers’ compensation insurance provider was interested in using analytics to help reduce provider fraud, waste, and abuse (FWA).  The main goal was to identify questionable provider practices and to prioritize work for investigators.  Second, it was important to measure the impact of the actions taken to further reduce the losses and promote best practices among providers.



It is a Mistake to Rely on One Technique

In his Top 10 Data Mining Mistakes John Elder shares lessons learned from more than 20 years of data science consulting experience. Avoiding these mistakes are cornerstones to any successful analytics project. In this blog about Mistake #2 you will learn about the dangers of relying on a single technique and some of the benefits of employing a handful of good tools....

BLOG_its-a-Mistake-to-Rely-on-One-Analytics-Technique.jpgIn his Top 10 Data Mining Mistakes John Elder shares lessons learned from more than 20 years of data science consulting experience. Avoiding these mistakes are cornerstones to any successful analytics project. In this blog about Mistake #2 you will learn about the dangers of relying on a single technique and some of the benefits of employing a handful of good tools.



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