Solution
Forecasting
Predict the future by correctly estimating key performance metrics based on historic data and real-time metrics
Other topics
Predict and Anticipate
At DFX-5, we develop forecasting solutions, called engines, that estimate future events based on past and present data. The forecasts are generated using analysis of trends (creates data patterns) and outliers (unique events) through mathematical equations. At the core of any predictive engine is a mathematical formula that attempts to identify the unique normal distribution by following the central limit theorem.
Forecasts can predict sales volumes, suggest items a user is most likely to purchase, identify fraud scenarios, and any other numerical or categorical result. The accuracy of the forecasts tends to constantly improve with use, since each prediction is validated, and the results are feedback into the forecast engine. The engine then incorporates the newly received evaluation to modify subsequent forecasts. Thus, always improving based on results.
In our experience, the bulk of forecasting engines are used for financial estimates, yet the tools have proven their accuracy beyond just the numbers. Forecasting engines can predict behavior and identify from a pool of options the most likely winner.
To accelerate the adoption of forecasting engines, at DFX5 we have developed pre-built solutions that are turnkey and ready for use in a variety of industry sectors. For instance, LOGAN is a financial fraud detector that uses artificial intelligence to identify fraud in credit card transactions, subscriptions, and guest checkouts. Meanwhile, STELLA is a recommendation engine that suggests items in a catalog based on user preferences, historic data, and real-time information. Finally, ENRIQUE is a conversational interface or chat bot that can anticipate the reasons why you are contacting the support center and proactively help solve the problem.
At DFX-5 we use a multi-disciplinary approach to create unique forecasting engines that are independent of each other and can be configured to meet any industry specific scenario.
For those firms who want to quickly deploy forecasting engines, we have the following three turn key solutions:
- LOGAN: fraud detection engine
- STELLA: recommendation engine
- ENRIQUE: forecast chat bot
LOGAN
LOGAN identifies five (5) types of online fraud in REAL-TIME:
- New Account Fraud Risk – Accurately distinguish between legitimate and high-risk customer account registrations so that you can selectively introduce additional steps or checks based on risk. For example, you can setup your customer account registration workflow to require additional email and phone verification steps only for account registrations that exhibit high risk characteristics.
- Guest Checkout Abuse – Spot potential fraudsters even among customers without a history of transactions. Guest checkout has no historical account usage or user behavior data which makes fraud detection much harder. With LOGAN, you can send as little as an email and IP address from a guest checkout order to assess its potential fraud risk so you can decide whether to accept it, review it, or collect more customer details.
- ‘Try Before you Buy’ Abuse – Identify accounts that are more likely to abuse “Try Before You Buy” programs such as fashion services that ship clothing and accessories for you to explore before sending payment.
- Online Payment Abuse – Reduce online payment fraud by flagging suspicious online payment transactions before processing payments and fulfilling orders.
- Account Takeover – Identify when an account of a current customer has been compromised by unapproved actors. Once identified then take actions to quickly eliminate the compromise, inform the client and take steps to avoid any potential financial risk.
To learn more, please read our blog on LOGAN.
STELLA
STELLA is a recommendation engine that can recommend any item, product, or service from a catalog to users. The engine has a variety of unique algorithms that each focus on unique types of suggestions. For instance, the cold-start algorithm within STELLA suggests items to users that have never used the system. For instance, imagine a user has just signed up and has zero historic purchases or browsing history, in those scenarios STELLA has a cold start set of suggestions that use innovative methods to suggest predictions. The hot-item algorithm within STELLA tends to identify the most common and browsed items within the realm of possibilities for the user. Many other algorithms are used by STELLA to suggest a variety of items based on different objectives.
ENRIQUE
ENRIQUE is a conversational interface that can talk or text to solve any problem a user may experience. The conversational interface can be called using a phone or texted vis SMS or contacted via social media or deployed within any business application. The interface predicts the reasons why a user is contacting the customer support hotline and proactively attempts to solve the issue or reach a call agent who can resolve the problem without having to engage the caller. ENRIQUE is multi-languages, not only can the tool be configured to work in ANY language, it can also use multiple languages at the same time. A convenient tool for international firms who need to have a presence in both their local and international languages. Can be configured to accept common slang or business specific words and dictionaries. The interface integrates third party tools like CRM’s, payment services, and financial information to further accelerate time to resolution.
DFX5 is a global company with offices in Miami, Prague, and San Juan. Focused on technology consulting, DFX5 specializes in the use of innovative solutions, offered by Amazon Web Services. The DFX5 team is composed of cloud experts who are certified as Solutions Architects, Professionals, and Specialists in fields like Data, Analytics, Machine Learning, and more.
DFX5 delivers best-in-class solutions following best-practices and well-architected frameworks. Our proven success with Fortune 500 companies around the world is a testament to the utmost commitment we have with our clients. At DFX5 we are honored that our clients bestow upon us the confidence to manage their technology infrastructure. We are emboldened to continue growing and expanding our services following our proven methodologies.
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