India's largest platform and marketplace for AI & Analytics leaders & professionals

Sign in

India's largest platform and marketplace for AI & Analytics leaders & professionals
Become a Thought Leader
Become a 3AI Member

Sign in

3AI Digital Library

< Go Back

Risk Model Monitoring & Refinement

3AI August 17, 2020

A Leading Mortgage Services Company

Problem Statement

  • Ask was monitoring expertise which can help improve model monitoring structure. There were no standardized set of model monitoring parameters
  • Model documentations were typically not available, in some cases the owners were also not known
  • There was manual process of monitoring the models and producing PDF reports with immense man hours getting lost in the process

Analytics Led Approach

  • A VBA-based dashboard was prepared which automated the entire process ,reducing the chances of error drastically
  • It provided excessive ease of usability by avoiding multiple steps of fetching data , running codes, downloading data and chart creation
  • The tool churned out ready to consume reports, which provided a snapshot of the health of the model for more informed decision making

Business Impact

  • 80% reduction in manual effort by automating model performance report generation
  • Ensured that business decisions were in line with the correct scoring definition
  • Keeping the model variables relevant and at its optimal performance
  • Overall impact of the tool
    • Total man-hours saved ~ 720
    • Dollar impact in the upwards of $ 300K

Critical Success Factors

  • Standardization of the entire model monitoring process
  • Removal of any kind of subjective decision
  • Maintaining data integrity
  • Timely compliance with regulatory requirements

    3AI Trending Articles

  • AI propels progress for the differently abled

    AI or Artificial Intelligence is a Data Science Function that trains the computers to learn through experiences and perform tasks at cognitive levels adjusting to certain inputs. Artificial Intelligence is a field of Data Science and over the years it has emerged as a significant function across all businesses. AI or Artificial Intelligence is a […]

  • IoT devices at risk from Amnesia:33

    A new series of vulnerabilities dubbed Amnesia:33 puts millions of IoT devices at risk of being compromised. Security researchers from Forescout disclosed the 33 vulnerabilities today. The flaws are found in four open-source TCP/IP libraries used in the firmware of products from over 150 vendors. According to the researchers’ estimates, millions of consumer and enterprise […]

  • Data Science redefines Consulting to transform Digital Business Model

    Consulting firms the world over, are looking to develop competencies that would create a definite competitive advantage for them in the market. The consulting sector is no longer immune to disruptive technologies that have significantly influenced other digital-enabled businesses and is flooded with new players having a non-traditional approach toward consulting. Globally, companies seeking a […]

  • Automated Quality Excellence Framework for Data Science Modelling

    Featured Article: Author: Abhishek Sengupta, Walmart Global Tech India Introduction:  A necessary but often tedious task data scientists must perform as part of any project is quality assurance (QA) of their modules so as to prevent any unforeseen incidents during deployment. While Quality Assurance and Excellence is quite prevalent in Data Engineering, QE in Data […]