Standardized Modeling Suite for End-to-End Automation
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Solution Overview
Problem
Conventional modeling solutions lack end-to-end integration and automation, requiring modelers to navigate multiple software packages and inefficient interfaces, leading to inefficiencies and insufficient personalization in the modeling process.
Innovation Solution
A standardized toolkit for end-to-end model development that automates data gathering, variable reduction, model estimation, and reporting, with standardized interfaces between modules to facilitate seamless communication and generate comprehensive model documents for governance and compliance.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Adaptability or versatility
If multiple software packages are used for different modeling tasks, then specialized functionality is available for each task, but the complexity of navigating between packages and formatting data increases
Solution Approach 1:
The patent combines multiple specialized modeling functions (data gathering, data checking, variable reduction, model estimation, reporting) into a single integrated standardized modeling suite. This merging eliminates the need to navigate between multiple software packages while maintaining specialized functionality through dedicated modules within the unified system.
Solution Approach 2:
The standardized modeling suite provides universal functionality across all modeling tasks through a common platform with standardized interfaces. The system can handle diverse modeling requirements (different data types, models, and applications) through a single multi-functional framework that accommodates various specialized operations without requiring separate software packages.
2Ease of operation
If manual data formatting is required between modules, then flexibility in data handling is maintained, but time is wasted on formatting tasks
Solution Approach 1:
The system performs preliminary data formatting and transformation automatically when data is input into the standardized interfaces. Data is pre-processed and converted into the required formats for subsequent modeling modules before the user needs to use the data, eliminating the need for manual formatting steps and time-consuming post-processing.
Solution Approach 2:
The modeling suite handles data formatting and interface communication autonomously through standardized protocols. The system self-manages data transformation between modules without requiring user intervention for formatting tasks, allowing the data to flow automatically through the modeling pipeline while maintaining flexibility in how data is handled.
3Ease of manufacture
If conventional modeling programs are used, then basic modeling capabilities are available, but insufficient automation and personalization reduce model performance
Solution Approach 1:
The standardized modeling suite incorporates feedback mechanisms that automatically monitor and adjust modeling processes based on data characteristics and model performance. The system receives feedback from data checking and variable reduction modules, automatically refining model estimation parameters and optimizing the modeling process without requiring manual reconfiguration, thereby enhancing automation while maintaining basic capabilities.
Data Source
AI summary
An enhanced modeling tool associated with an entity may facilitate end-to-end modeling of problems in any application space. The enhanced modeling tool may collect modeling data from a variety of sources, check the collected data, find the best predictor variables for a given target variable, estimate the model, implement the model, and validate the model. The output of each of these steps may be in a standardized format to allow other steps to directly incorporate the output. An additional feature of the system may include a reporting capability that generates supporting documents related to model governance and risk compliance.