What is Data Mining?
Data mining involves the auditing of operating systems, controls and data files to determine discrepancies and anomalies in the system that fall outside business objectives. Companies of all sizes gather large amounts of data to process payments, gather personal healthcare information, and to create management reports.
Sometimes there is a problem with the gathering and storage of this data. There may be duplicate entries, missing information, and indications of fraud being committed. Data mining allows the company to find these data anomalies and control failures so they may remediate the problems.
Our Data Mining Services
I.S. Partners, LLC offers comprehensive data mining services targeted toward your data processes, internal information management controls, and business objectives. We analyze the data based on your operating needs, and provide detailed reports of our findings. Our services can target indications of fraud, overpayments and financial violations.
We perform four general steps for specific industry verticals for your organization. First, we review data acquisition of files that will be examined. Then we perform risk assessment and research to develop a list of objectives that you want our services to target during our evaluations. Next, we execute data queries as we identify issues such as overpayment and fraud. The last step involves analysis and presentation of our data query results as we gather our findings into detailed reports available to your company’s management.
What are the benefits of Data Mining?
Data mining services provide countless benefits to our clients based on their industry and data mining objectives. For healthcare organizations, for example, we are able to determine IT system control failures. Our independent auditors can find over-utilization of healthcare benefits, over-payments and other types of fraud.
For financial institutions, I.S. Partners, LLC can locate uncollected fees and bank lending limit violations. We also help different industries identify duplicate or unauthorized payments. Our services can help your company save money and decrease risks associated with fraud.