Predictive Modeling

Sarah Wong2022-07-20T19:55:37+00:00March 20th, 2021|Categories: Analytics, Artificial Intelligence, Automation, Machine Learning, Natural Language Processing, Predictive Modeling|Tags: Analytics, Artificial Intelligence, automation, Machine Learning, Natural Language Processing, Predictive Modeling|

Our Approach to Automation - Start Small Automation to compensate for an employee shortage Help Wanted! Signs are up everywhere, as employers are building their production back up. But finding qualified employees is difficult right now. Are you spending time trying to figure out how to accomplish more, with less staff? Regardless of the industry you are in, this is a great time to look into automation through AI/ML. Where do I start with the Automation process? One of the most common questions we get from clients is where to even get started as that task can often seem daunting. [...]

The COVID-19 Butterfly Effect

Analytics, Data Science, Predictive Modeling

The COVID-19 Butterfly Effect

Sarah Wong2021-01-15T14:17:47+00:00November 20th, 2020|Categories: Analytics, Data Science, Predictive Modeling|Tags: Analytics, Data Science, Predictive Modeling|

The COVID-19 Butterfly Effect Without question, COVID-19 has had massive effects on data. There are obvious changes that we see reported in the news – hospital revenues down, commercial air travel is down, etc. But each of those changes can create longer term changes in the data that analyst and data scientists will rely on in the future. In this blog, we will review the COVID-19 “Butterfly Effect” and how we can “cure” our COVID-19 data woes. The COVID-19 Butterfly Effect Almost daily we see stories around the effect of coronavirus in hospitals. ERs and ICUs are full of patients. But with the increase in coronavirus cases, we also see a decrease in the volumes of [...]

Making the Most of Your Collection Attempts – CFPB Rule

Automation, Collections, Machine Learning, Predictive Modeling

Making the Most of Your Collection Attempts – CFPB Rule

Sarah Wong2022-07-22T18:40:51+00:00November 3rd, 2020|Categories: Automation, Collections, Machine Learning, Predictive Modeling|Tags: automation, Collections, Machine Learning, Paypensity, Predictive Modeling|

Make your attempts count - How Machine Learning models can help with the new CFPB rule The CFPB recently released a new rule that limits contact attempts to only 7 per week per consumer. Maintaining and improving Right Party Contact (RPC) rates is now more important than ever! This means that you not only have to call the right number, but you have to do it at the right time. The rule will have many agencies scrambling to figure out a way to make the most of their calling strategies to keep their collections rates from dropping. How will agencies ensure they [...]

Is there a better way to handle bad debt scoring?

Artificial Intelligence, Collections, Machine Learning, Predictive Modeling

Is there a better way to handle bad debt scoring?

Sarah Wong2021-01-20T15:12:09+00:00October 21st, 2020|Categories: Artificial Intelligence, Collections, Machine Learning, Predictive Modeling|Tags: Artificial Intelligence, bad debt, credit score, debt scoring, Machine Learning, Predictive Modeling|

Despite the current financial crisis, credit scores are soaring – Is there a better way to handle bad debt scoring? For many years, credit scores have been the primary tool used to prioritize bad debt accounts for the vast majority of collections agencies. For the most part, a person’s credit score is a good indicator to determine if they are capable of paying back their debt. But with advances in AI technology and with the average consumer credit score reaching new highs, (see WSJ article here) should agencies be looking at alternative ways to prioritize their accounts? In this article, we’ll compare traditional credit scores to machine learning models as a strategy [...]

Collection Scoring with AI/ML

Artificial Intelligence, Collections, Machine Learning, Predictive Modeling

Collection Scoring with AI/ML

Sarah Wong2022-07-27T15:44:00+00:00October 9th, 2020|Categories: Artificial Intelligence, Collections, Machine Learning, Predictive Modeling|Tags: Artificial Intelligece, Collections, Machine Learning, Predictive Modeling|

Collection Scoring - How Healthcare Providers Can Use AI/ML for Optimal Results Debt collection is a costly, yet necessary undertaking for healthcare providers. To reduce costs, debt collection often gets outsourced to a third-party agency. However, handling accounts that are more likely to pay in-house can reduce outsourcing costs. To accurately identify these accounts, healthcare providers can leverage artificial intelligence (AI) for Collection Scoring. Why Healthcare Providers Should Use AI For Collection Scoring AI-based collection scoring models allow healthcare providers to accurately determine which accounts receivable to handle in-house and which to outsource to collection agencies. This results in: Increased debt collection rates, because collectors will [...]

Data Science Boot Camp

Analytics, Boot Camp, Data Science, Machine Learning

Data Science Boot Camp

Sarah Wong2022-08-17T17:19:41+00:00August 11th, 2020|Categories: Analytics, Boot Camp, Data Science, Machine Learning|Tags: Analytics, Data Science, Machine Learning, NLP Logix, Predictive Modeling|

2020 Data Science Boot Camp – Sponsored by NLP Logix (not pictured - Alicia Panchal and Tah'Liek Brunswick) What do Australian Rainfall Predictions, NFL Win Probabilities, and Airline Satisfaction Models have in common? These were all research topics chosen by this year’s Data Science Boot Camp participants, sponsored by NLP Logix. This five-week program allowed students from local high schools to work together under the guidance of some of our experienced data scientists to learn the basics of analytics and machine learning. The teams were then able to put what they learned to use by tackling real-world issues with predictive modeling. At the end of the program, the students presented their models [...]

How Data Analytics Can Drive Your Marketing Strategy

Analytics, Data Science, Predictive Modeling

How Data Analytics Can Drive Your Marketing Strategy

Sarah Wong2021-03-15T18:21:53+00:00April 7th, 2020|Categories: Analytics, Data Science, Predictive Modeling|Tags: Analytics, Data Science, NLP Logix, Predictive Modeling|

Let your data guide you in making important marketing decisions. The marketing industry has transformed over the last few years to become more technology-enabled, where marketers are asked to be also play the roles of Data Analysts, Strategists and Business Development Managers. So how can marketers leverage the data that they already have to enable them to lead the way? Before you develop a Marketing Analytics road map, it's critical to understand the basics. Here are a few necessary components to your plan that you must determine before you set out on your Analytics journey.What data do you need to measure? What key metrics will you measure for [...]

Start Automation with Assessment

Automation, Data Science, Predictive Modeling, Workflow

Start Automation with Assessment

Sarah Wong2021-03-15T18:34:11+00:00March 23rd, 2020|Categories: Automation, Data Science, Predictive Modeling, Workflow|Tags: automation, Data Science, NLP Logix, Predictive Modeling, workflow|

How it's done and the results. One of the first steps to consider before starting to explore any automation solutions is to take a holistic look at your entire organization and workflows. The easiest way to do this is through an initial 6-8 week assessment. This is a critical first step as it will provide the foundation for your automation plans and will help define your approach. Starting the Process When we kickoff automation assessments with our clients, it is important that they are part of the process. As we say here at NLP Logix, “Data Science is a Team Sport®” and our clients are part of that team [...]