Risk Assessment Engine for Structured Data Analysis

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Solution Overview

Problem

The increasing volume of data in industries leads to inefficiencies and potential liabilities due to the time-consuming process of sorting through stored data, with much data being ignored or abandoned, which hampers decision-making and risk assessment for authorized users.

Innovation Solution

A risk assessment engine and event escalation engine that monitor and analyze structured and unstructured data in real-time to provide timely risk assessments and notifications, enabling authorized users to make informed decisions by parsing through broader data sets more efficiently than conventional methods.

Engineering Contradictions & Design Principles

VSEngineering Contradiction Analysis

1Loss of information

If data is stored for future reference and analysis, then data availability is improved, but data processing time and complexity increase

Engineering Contradiction:

Improvedata availabilityVSAvoiddata processing time

Core Design Contradiction:

Loss of informationVSLoss of time

Solution Approach 1:

The system performs preliminary actions by pre-processing and tagging data as it is generated, creating structured metadata and risk indicators in advance. This allows the data to be readily available for future queries without requiring intensive processing at the time of analysis, thus resolving the contradiction between data availability and processing time.

Inventive Principle:

Principle #10Preliminary action

Solution Approach 2:

The system enables self-service by automatically monitoring, analyzing, and flagging risks without requiring manual intervention. The automated risk assessment engine continuously processes data, generates risk scores, and sends notifications, eliminating the need for users to manually sort through stored data and reducing processing time while maintaining comprehensive data availability.

Inventive Principle:

Principle #25Self-service

2Measurement precision

If more data is analyzed for risk assessment, then assessment accuracy is improved, but processing complexity and time increase

Engineering Contradiction:

Improverisk assessment accuracyVSAvoidprocessing complexity

Core Design Contradiction:

Measurement precisionVSDevice complexity

Solution Approach 1:

The system segments the complex task of risk assessment into distinct modules: data collection, risk identification, risk scoring, and notification. Each module handles specific aspects of the analysis, allowing the system to process comprehensive data sets without overwhelming complexity. The segmentation enables parallel processing and reduces the cognitive load on the overall system.

Inventive Principle:

Principle #1Segmentation

Solution Approach 2:

The system changes parameters by transforming raw data into standardized risk scores and categories. Instead of analyzing raw data directly, the system converts various data types into uniform risk metrics, simplifying the analysis process while maintaining assessment accuracy. This parameter transformation allows for efficient comparison and evaluation across different data sources.

Inventive Principle:

Principle #35Parameter changes

3Loss of information

If manual data sorting is performed, then data understanding is improved, but time efficiency deteriorates

Engineering Contradiction:

Improvedata understandingVSAvoiddecision-making efficiency

Core Design Contradiction:

Loss of informationVSProductivity

Solution Approach 1:

The system introduces an intermediary layer between raw data and decision-makers. The risk assessment engine acts as a mediator that automatically processes, analyzes, and interprets data, then presents synthesized risk assessments and recommendations to users. This intermediary handles the time-consuming sorting and analysis tasks while preserving data understanding, allowing users to make decisions based on processed insights rather than raw data.

Inventive Principle:

Principle #24Intermediary (Mediator)

Solution Approach 2:

The system replaces manual mechanical data sorting with automated computational analysis. Instead of users manually reviewing and understanding data, the automated engine performs the mechanical task of data processing, pattern recognition, and risk evaluation, freeing users to focus on decision-making based on the generated insights.

Inventive Principle:

Principle #28Mechanics substitution (Replace mechanical system)

4Speed

If real-time monitoring is implemented, then event detection speed is improved, but system resource consumption increases

Engineering Contradiction:

Improveevent detection speedVSAvoidsystem resource consumption

Core Design Contradiction:

SpeedVSUse of energy by moving object

Solution Approach 1:

The system implements periodic action by monitoring data at strategically determined intervals rather than continuously processing every data point in real-time. The risk assessment engine evaluates data periodically based on risk thresholds and data significance, enabling fast event detection when risks are present while conserving system resources during normal operations.

Inventive Principle:

Principle #19Periodic action

Data Source

PatentUS10665348B1Risk assessment and event detection

Publication Date: 2020.05.26 CHCA

AI summary

In some examples, structured and unstructured data is analyzed to determine whether a user is at risk for a certain condition. The results of this analysis can be included in a risk assessment. In some examples, structured and unstructured data is analyzed to determine whether a particular event has taken place. Once detection of occurrence of the event has taken place, a notification is generated that a correct recipient is identified. In addition, it is determined if and how the notification should be escalated.