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 leveraging machine learning (ML) and natural language processing (NLP) to extract, parse, and produce robust, richly-formatted data. Odin’s predictive ML models are used to create comparative analyses to support data-driven budget execution planning.
Benefits/Outcomes
- Scalable foundational architecture enabling automation and state-of-the art ML capabilities
- Automated data extraction and cross linking of funding requests, contracts, and historical spend
- End-to-end ML learning pipelines
- Predictive analytics to compare like services, identify anomalies, forecast budget items, and predict “should-cost”
- Intuitive dashboard visualizations ease budget
execution planning - Estimated to reduce analyst task time to completion by 80%+ and cognitive load by 50%+
Toolbox
- Intelligent Data Fusion, Data Engineering
- ML, Text Analytics, Predictive Analytics
- Databricks, PySpark, Tableau
- Kystone™ Accelerators: NLP, Analytics
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
- Automate Data Rights Understanding Learn More
- Automated Data Curation, Crosslinking & Document Generation Learn More
