Automated Data Consolidation for Reporting Accuracy
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Solution Overview
Problem
Current systems for generating operational reports in institutions with reporting requirements are laborious and time-consuming due to manual review and updating of data, which can introduce errors and slow down the reporting process.
Innovation Solution
A system and method for automatic, high-volume report generation from multiple sources, involving a database system with two databases for source data, a computer processor to receive and apply adjustments, compile data, and generate reports, and the ability to transmit these reports.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If manual review and updating of data is performed, then errors can be corrected or inaccuracies addressed, but the reporting process becomes laborious and time consuming
Solution Approach 1:
The patent segments the data review and adjustment process into distinct automated components: data extraction from multiple sources, automated adjustment application, and consolidated report generation. This segmentation allows each component to be optimized independently, maintaining accuracy through structured processing while improving overall reporting speed through automation.
Solution Approach 2:
The patent replaces the mechanical manual review process with an automated computer-based system that extracts data, applies adjustments, and generates reports without human intervention. This substitution eliminates the trade-off by automating the previously manual accuracy-critical tasks, thereby improving both reliability and productivity simultaneously.
2Reliability
If multiple manual revisions are performed across different data sources, then data accuracy can be maintained, but additional errors may be introduced and the process slows down
Solution Approach 1:
The patent merges multiple data sources and their associated adjustments into a single automated processing workflow. By consolidating the extraction, adjustment, and compilation steps into one integrated system, it reduces process complexity while maintaining the ability to handle multiple sources, thereby addressing both reliability and complexity concerns.
Solution Approach 2:
The patent introduces an automated computer-based intermediary system that mediates between multiple data sources and the final report. This intermediary automatically manages the complexity of coordinating multiple sources and adjustments, reducing the burden on human operators and minimizing the introduction of errors while maintaining data accuracy.
3Productivity
If fully automated report generation is implemented, then reporting speed increases, but the ability to correct errors or inaccuracies decreases
Solution Approach 1:
The patent implements a self-service automated system that performs data extraction, adjustment application, and report generation without requiring manual intervention. The system automatically handles error correction through programmed logic and validation rules, maintaining reliability while achieving full automation and high reporting speed.
Solution Approach 2:
The patent incorporates feedback mechanisms into the automated system, where the computer validates data during extraction and adjustment processes. This feedback loop ensures errors are detected and corrected automatically within the streamlined workflow, maintaining reliability while preserving the speed benefits of automation.
Data Source
AI summary
Computer-implemented systems and methods for processing data for automated consolidation of adjustments to data drawn from one or more databases. The systems receive first source data along with adjustments to the first source data, which is used to generate adjusted first source data. Second source data is also received, along with a delta file, which is applied to generate adjusted second source data. The adjust first and second source data is then compiled, and third adjustments to the compiled data may be performed.