Fast Prototyping Software for Fraud Detection

Discover how DataWalk’s Fast Prototyping Software transformed fraud detection through rapid, real-time data integration and analysis. This proof-of-concept (POC) illustrates DataWalk's ability to create a comprehensive prototyping environment in just three days, integrating nine data sources and testing 98 hypotheses for an insurance sector client.

Key Highlights:

  • Day 1: Constructed the foundation by defining key data sets (e.g., claims, policies) and established relationships between disparate data systems.
  • Day 2: Expanded the analytical universe by incorporating police reports, vehicle values, and other key data points for enriched insights.
  • Day 3: Tested advanced hypotheses using visual tools like charts, histograms, and network graphs, narrowing suspicious claims from 3,000 to a prioritized 20 for deeper investigation.

By leveraging flexible business-rule-based modeling and eliminating the need for SQL or programming, DataWalk enabled real-time updates and rapid hypothesis testing. The results were significant, identifying over 380 fraudulent claims, leading to immediate financial protection for the client.

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