DataWalk enables data-intensive companies and government agencies to easily “blend” vast amounts of data that is distributed among various “data silos” and external sources; visualize it; and analyze it. Previously these capabilities were available only for organizations which had massive budgets, but DataWalk is making this available to a whole new class of customers. Below is our recent interview with Bob Thomas, VP of Marketing at DataWalk:
Q: Bob, can you give us more insights into your software?
A: Our software is particularly useful for use cases involving finding the needle across many haystacks. This includes “find the bad guy” and “find the anomaly” types of use cases, ranging from law enforcement and intelligence applications, to anti-fraud and anti-money laundering. Ours is truly a case of using technology to make the world a better, safer place.
Q: You’ve recently announced a software solution that uses data to identify people at risk of coronavirus; could you tell us something more?
A: The varying approaches that countries such as China, South Korea, Spain, and Italy have used in combating coronavirus suggests that thousands of lives can be saved if quarantines of sick individuals can be monitored, and if outbreaks can be predicted such that appropriate medical resources can be pre-staged to the areas where they will be needed the most.
DataWalk software is a great solution for this, because doing these things involves vast amounts of data, and a variety of data sources that have not traditionally been used in conjunction. We can combine cell-phone data, patient data, immigration data, hospital information, availability of medical equipment, and any other data our customers may have in order to provide a comprehensive view of all of the variables that go into the equation of minimizing spread of the virus. We’re excited to be able to offer these capabilities to help fight this terrible outbreak.
Q: What makes you the best choice for fighting insurance fraud?
A: Fraud costs the US insurance industry nearly $100B a year, so it’s a big and important problem.
The general process for fighting insurance fraud is to score incoming claims in order to identify those that seem suspicious, and then closely examine the suspect claims to determine whether or not they are fraudulent. The challenge is that it’s very difficult to accurately, automatically identify suspicious claims. If you incorrectly flag too many claims that aren’t actually suspicious – what are known as “false positives” – then you can waste a lot of time and manpower checking them out, and the good customers filing those claims have to wait longer for their claim to be resolved.
DataWalk software enables insurance companies to dramatically increase their accuracy in identifying which claims are suspicious. Unlike other vendors, DataWalk enables customers to easily create and tune the rules and scores they use to identify suspicious claims, such that over time our customers can achieve tremendous results in accurately identifying suspicious claims. This can save our customers millions of dollars, and makes their customers happier as their claims can be resolved more quickly.
The other thing I’ll mention is that unlike other such applications that can take months or even years to get into production, DataWalk can be installed and results can be delivered in weeks. It’s a big change for the industry.
Q: Can you give us insights into your product? How does it work?
A: We enable customers to take vast amounts of data spread across many “silo’d” systems, and import that into our repository where it is automatically connected. For example, if you have information about John Doe in one system, and other information about John Doe in other systems, DataWalk connects those such that you get a complete view of Mr. Doe. You can easily access that information, report on it, view it in various consumable visualizations, and run sophisticated database queries across all of that data using a very simple visual interface.
What makes it all work is a number of patented technologies that DataWalk has developed.
Q: What are your plans for the future?
A: Our focus to-date has largely been around law enforcement and intelligence agencies, as well as helping commercial customers address various types of fraud. There are various other “find the bad guy” and “find the problem” sorts of use cases, so we will continue to do more in other types of applications in both the public and private sectors. Another area of opportunity for us is around machine learning, as our technology can be applied to enable improvements in the way companies deploy, manage, and tune their machine learning algorithms, which could drive much-needed increases in productivity and performance.
There are a lot of important problems to be solved, and we relish the challenge of working on those to make the world a better, safer place.
Last Updated on September 19, 2020