Data-Driven Financial Budget Planning
Customer Challenge
The Air Force required a cohesive, consistent, and transparent data-driven way to equitably allocate its multibillion-dollar annual budget execution planning across missions and installations.
Innovative Solution
Illumination Works is extending our proven Odin™ solution to automate budget requirements forecasting and analysis with intelligent data fusion producing robust, richly-formatted data. Odin creates business- rule based comparative analyses to support data-driven budget execution planning.
Benefits/Outcomes
- Scalable foundational architecture enabling automation
- Automated data extraction and cross linking of funding requests, contracts, and historical spend
- Predictive analytics to compare like services, identify anomalies, forecast budget items, and predict “should-cost”
- Business rule-driven processing and comparative analysis
- Intuitive dashboard visualizations to ease budget
execution planning - Estimated to reduce analyst task time to completion by 80%+ and reduce cognitive load by 50%+
Toolbox
- Intelligent Data Fusion, Data Engineering
- Databricks, PySpark, Tableau
- Predictive Analytics
- Business Rules Engine
Business Value
- Saves thousands of person-hours each year in manual budget requirements gathering and validation
- Increases transparency and confidence
- Enables personnel to focus on high-priority analytic tasks with confidence
Domain Expertise
- Contracts
- Financial
- Budget Forecasting
Other Odin Solutions
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