Working With EDS

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Economic Data Sciences (EDS) has structured our offering with several customizable levels of engagement, so that collaboration and integration are as easy and seamless as possible. The EDS toolset adds value in fundamental ways that connects data sources, improves the business process, breaks down existing silos, and leads to improved outcomes. These types of changes cannot happen overnight, and because this is the case, we generally offer four different types of collaborations:

1. Pilot Project
2. Consulting Services
3. Software as a Service (SaaS) – Online Web Solution
4. Data Infrastructure

Pilot Project

Most consulting engagements begin with a pilot project and this starting point tends to be the preferred route for most Partners. The main goal is for EDS to understand data flow and how the team utilizes it. Additionally, pilot projects allow Partners to experience first hand how A.I. can be integrated into their existing process, benefit their day-to-day activities, and improve data analysis in understandable ways.

With one of the main Partner concerns being data security, the pilot project begins by signing a data agreement. EDS takes data secrecy and security extremely seriously, has multiple levels of encryption, and has passed 3rd-party security inspection standards which we re-visit on a regular basis.

Next, the team performs a data infrastructure review for which the timeline can vary based on complexity and scope. Most reviews can be accomplished in a few weeks but the review team will set a clear timeline before the project begins. Since each Partner need is unique, it is important for the team to understand specific needs and identify the biggest benefits from the software tool.

Once the review is done, EDS recommends a customized solution which is based on specific Partner preferences. After clear project goals have been set, EDS integrates the A.I. solution with existing processes and resources while tracking the performance and recommendation outcomes.

Pilot projects generally take 1-3 months to complete. At the end, Partners have a solid understanding of the benefits of A.I., EDS software and how the tool would integrate into their daily activities.

Once the pilot project is complete, Partners generally migrate to a consulting engagement with EDS.

Consulting Engagement

The first order of events is setting clear outcome goals and objectives regarding specific deliverables. These can be from the Pilot project or others. During this stage, frequency and timeline will be decided.

Consulting engagements tend to be longer-term (6-18 months), EDS provides a deeper integration of the software. Due to the evolving nature of business and technology, EDS and the Partner perform regular reviews of the consulting agreement and make changes if needed. These reviews ensure that Partner’s continue to be highly satisfied with the EDS solution and that it meets their evolving needs.

User Interface

The third step, User Interface, can be initiated during the consulting agreement and so may overlap with the previous section.

Once Partners are comfortable with how the software works and are keen to run results themselves, EDS provides a personalized user interface. Just as with consulting engagements, the Partner and EDS first agree on the specific functionalities and determine the best implementation before constructing a customize solution. Although the user interface is intended to be fully operational by the Partner, EDS will continue to advise as needed. This can include adding additional functionalities, interpreting results or providing guidance how to further benefit from the software.

Data Infrastructure

Through building our A.I. driven solutions, EDS has gained significant and highly technical expertise around data infrastructure. With this offering we can share our hard-earned experience with our Partners in several ways and help jumpstart their own internal tools. The key idea is to significantly increase the efficiency of the Partner’s team(s) and break through inner-company data silos. EDS has found that often times each division within a company has its own models, its own generated data, and even its own data subscriptions.

Such a situation results in lost benefits from the information already available, double-work, and senior management kept in the dark about critical issues and opportunities.

Despite the significant growth in data in recent years and the constant push to increase efficiency, it is often the case that companies under-utilize readily available information. With the help of EDS, Partners enjoy a centralized data depot that allows each unit to benefit from the insights and work done by other divisions.

One example is that many investment funds are really collections of funds, either because of divisions by asset class (typical for pension funds) or end-client personalization (typical for intermediaries). Combining a holistic data perspective with the insights that are powered by the EDS toolset, the investment divisions can be better coordinated, better meet individualized and group goals, and build a more balanced total portfolio which leads to improved outcomes. Perhaps most informative is while coordinating across teams, our toolset can gather individual team or personalized end-client preferences based on their decision making. Given this information, the EDS tool can be utilized to build new investment products/solutions that address these issues and provide exact information as to which clients (or sub-group) could benefit the most from the new solution.

In larger organizations, these types of benefits scale significantly. When more teams, internal models, and more complex decisions are involved, only A.I. driven tools can offer a holistic, transparent, and consistent method to ensure a higher probability of success across a wider range of scenarios.

To see how A.I. can help in your business process email questions to info@EconomicDataSciences.com