Product News: Software
Software helps predict fraudulent behavior.
Press Release Summary:
September 13, 2006 - Genalytics Model 6.0 transforms large amounts of transaction data into predictive intelligence and uses genetic algorithms to automatically search and identify key combinations of time series variables found in any dataset. By studying time series patterns, organizations can identify credit risks, anticipate customer attrition, and detect probable bankruptcies. Software also allows users to format modeling output for Java and SPSS.
Original Press Release
Genalytics Model 6.0 Taps Time Series Data to Help Predict Fraud, Identity Theft
Press release date: August 7, 2006
ANDOVER, Mass., Aug. 7 // -- Genalytics, a leading provider of predictive data solutions that help organizations better analyze and target their customers, today announced the release of Model 6.0. The new release automates the ability to process time series data so that companies can more efficiently and effectively predict such things as fraudulent behavior.
Genalytics' software transforms vast amounts of data into predictive intelligence and puts the power of patented genetic algorithms to use by automatically searching and identifying the key combinations of time series variables found in any dataset. This process drastically reduces the pre-processing time traditionally needed to build a model that predicts behavior based on customer trends. For example, Model 6.0 can detect fraud in bank transaction data. By using the new release time series capability, several variables that are very predictive of fraud, such as time of day, were uncovered.
"Business data is all about a series of time-related transactions and resulting trends," said Doug Newell, president and founder of Genalytics. "By quickly and efficiently identifying key time series patterns using Model 6.0, organizations will do a better job of targeting fraud, identifying credit risk, anticipating customer attrition, and detecting probable bankruptcies. The ability to automatically process thousands of time series variables opens up a world of predictive possibilities for anyone collecting transactional data."
In addition to the time series capabilities, Model 6.0 offers customers the ability to format modeling output for Java and SPSS, as well as the previous SAS formatting.
Genalytics is a supplier of advanced business analytics software that helps direct marketers and data analysts better target customers, discover new market opportunities, manage risk, and detect fraud. The company's patented software platform uses existing data to create predictive models that are applied to over 120 million households, making more accurate projections about future customer behavior. Genalytics is used by the financial, telecommunications, non-profit, franchise and retail industries.
Web site: www.genalytics.com/