Congratulations to Summit Principal Albert Lee on the publication of his article entitled “Predictive Analytics: the New Tool to Combat Fraud, Waste and Abuse.” Albert’s article was published in the summer 2015 edition of AGA’s Journal of Government Financial Management.
From Albert Lee's article:
"Government entities tasked with both regulatory enforcement and data analysis have an increasing number of data sources at their disposal. However, the data now at their fingertips can be increasingly complex, unstructured and unmanageable... Predictive analytics is a process that encompasses a series of methodologies that can successfully manage large-scale, data-driven problems that many government entities face. It is an iterative process that meshes the statistical methods of sampling, model estimation, model prediction and evaluation to form a cohesive system for targeting fraud, waste, abuse and other outcomes of interest to government agencies. Predictive analytics is a powerful tool that can assist agencies with decision- and policy-making in areas ranging from audit selection to regulatory enforcement."
Read the full article here here.