Solution Helps Companies Quickly Identify Data Outliers That Impact Profits
Kaizen Analytix LLC, a leading provider of data, analytics, and technology solutions, introduced its new Anomaly Detection Engine that systematically searches through all segments of a company’s data to quickly identify outliers which lead to fraud, customer churn, revenue leakage and other issues that impact profits.
Kaizen’s Anomaly Detection Engine, the latest offering in the KaizenInsights suite, automates delivery of powerful but hidden insights, without decision makers having to sift through dashboards, reports, spreadsheets, and unstructured data sources.
“Companies today deal with extremely large volumes of data generated from multiple sources, so it’s quite difficult for them to quickly find outliers hidden at a granular level – most of which result in real profit leakage,” said Krishna Arangode, CEO at Kaizen Analytix. “Our new Anomaly Detection Engine combs through all possible permutations of your data to identify and quantify anomalies in your operations, allowing for immediate identification of issues and value to be preserved.”
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Examples of data anomalies that the Engine can detect:
- Procurement spend
- Margin compression
- Customer acquisition
- Customer churn
- Transit times
- Equipment / machine downtime
- Internal systems activity (system logins/access, downloads / uploads, browsing activity)
- Other anomalies specific to business need
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The KaizenInsights Anomaly Detection Engine is beneficial for companies across a broad spectrum of industries, with a number of different operational applications. The solution’s functions include:
- Systematically searching through your data to identify anomalies based on combinations of segments, defined baselines and key metrics;
- Applying multiple proprietary anomaly detection algorithms to establish Anomaly Scores;
- Quantifying the importance, “business as usual” baseline, and deviation from baseline associated with each anomaly; and
- Summarizing anomalies in an intuitive presentation layer
Existing Kaizen customers have already realized tangible benefits with the Anomaly Detection solution. A telecommunications provider used the Engine to detect customer acquisition and retention issues, resulting in a 10-percent reduction in controllable churn and more than $20 million in revenue opportunities. Additionally, a global contract manufacturer used this technology to uncover procurement fraud in its China region which led to an estimated 2- to 5-percent savings in manufacturing spend.