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89-1195: The company's customers include businesses within the insurance, financial services, healthcare and corporate sectors as well as local, state and federal government, law enforcement and public safety. LexisNexis Risk Solutions operates within the Risk & Business Analytics market segment of RELX , a multinational information and analytics company based in London . LexisNexis Risk Solutions operates in four market segments: LexisNexis Risk Solutions provides customers with information-based analytics, decisioning tools and data management services that help customers remain compliant, reduce risk and improve operations. They serve multiple industries and sectors with specialized industry Data Services including ICIS, Cirium, Brightmine(formerly XpertHR), EGTM and Nextens. LexisNexis Risk Solutions uses HPCC Systems, also known as DAS (Data Analytics Supercomputer), extensively—its software architecture runs from commodity computing clusters to provide high-performance, data-parallel processing for big data applications. The HPCC Systems platform includes

178-601: A data refinery (Thor) and a rapid data delivery engine (ROXIE) that utilize the Enterprise Control Language (ECL). LexisNexis Risk Solutions open-sourced the HPCC Systems platform in 2011, and has seen some success with the adoption of this platform by diverse entities, an example being GuardHat, which makes smart hard hats with embedded HPCC Systems technology. A subsidiary of RELX (formerly Reed Elsevier), LexisNexis Risk Solutions first began as

267-423: A security breach occurred through a recently purchased subsidiary, Seisint, which allowed identity thieves to steal the records of at least 316,000 people. The database contained names, current and prior addresses, dates of birth, drivers license numbers and Social Security numbers , among other data obtained from credit reporting agencies and other sources. In 2008 the company settled an action taken against it by

356-568: A comprehensive electronic crash and incident reporting suite, to enhance its capabilities to provide a more complete solution to the law enforcement community. RELX purchased ThreatMetrix, a digital identity and risk-based authenticator platform, in February 2018. In May 2019, LexisNexis Risk Solutions purchased Lumen, an integrated data platform leveraged by public safety and law enforcement from Numerica Corporation. In January 2020, LexisNexis Risk Solutions closed its acquisition of ID Analytics,

445-594: A foreign-owned entity. In 2004, Reed Elsevier purchased Seisint Inc., based in Boca Raton, Florida . Seisint housed and operated the Multistate Anti-Terrorism Information Exchange (MATRIX). In September 2008, Reed Elsevier purchased data aggregator ChoicePoint. This acquisition included an insurance business and the C.L.U.E. database, an underwriting database for the U.S. auto insurance market. LexisNexis completed

534-645: A grant for Rapid Research (RAPID) from the National Science Foundation to develop a model of COVID-19 spread using innovative big data analytics techniques and tools. The project leverages prior experience in modeling Ebola spread to successfully model the spread of COVID-19. The Health Care segment of LexisNexis Risk Solutions announced in April 2020 the launch of a free COVID-19 Data Resource Center to provide county-level insights on at-risk populations and potential care capacity gaps to support

623-460: A machine to learn and then mimic human behavior that requires intelligence. This is accomplished through artificial intelligence, algorithms, and models. ARIMA models are a common example of time series models. These models use autoregression, which means the model can be fitted with a regression software that will use machine learning to do most of the regression analysis and smoothing. ARIMA models are known to have no overall trend, but instead have

712-494: A major subset of machine learning applications; in some contexts, it is synonymous with machine learning. In business, predictive models exploit patterns found in historical and transactional data to identify risks and opportunities. Models capture relationships among many factors to allow assessment of risk or potential associated with a particular set of conditions, guiding decision-making for candidate transactions. The defining functional effect of these technical approaches

801-399: A material accounting error and a further audit is conducted. Regression analysis methods are deployed in a similar way, except the regression model used assumes the availability of only one independent variable. The materiality of the independent variable contributing to the audited account balances are determined using past account balances along with present structural data. Materiality is

890-525: A more comprehensive view of people's identities so that law enforcement agencies can better target investigations, identify patterns, predict upcoming events and deploy resources more efficiently. In April, 2020, LexisNexis Risk Solutions created a free tracking tool to monitor and report the progress of the COVID-19 virus and provide better contextual understanding of the pandemic's evolution. Using data from Johns Hopkins University (daily cases and deaths),

979-510: A provider of citizen self-reporting software solutions to law enforcement agencies. The acquisition – which includes Coplogic’s technology, staff and book of business – adds a citizen incident reporting capability to the LexisNexis eCrash solution. In July 2016, LexisNexis Risk Solutions acquired Insurance Initiatives Ltd. (IIL), a data distribution platform that extracts, hosts and processes large quantities of data to deliver information into

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1068-544: A provider of fraud and credit risk solutions. Previously ID Analytics was a NortonLifeLock company. In February 2020, LexisNexis Risk Solutions, announced that it would acquire Emailage, an Arizona-based fraud prevention and identity verification start-up for $ 500 million. In 2020, ICIS (Independent Commodity Intelligence Services) acquired Chemical Data LLC (CDI), a leading provider of US petrochemical price benchmarks, market analysis and predictive analytics that complement ICIS’ existing US market coverage. In April 2024, it

1157-457: A publishing company called NV Uitgeversmaatschappij Elsevier (Elsevier Publishing Company NV) to publish literary classics and the encyclopedia Winkler Prins . Robbers named the company after the old Dutch printers family Elzevir , which, for example, published the works of Erasmus in 1587. Elsevier NV originally was based in Rotterdam but moved to Amsterdam in the late 1880s. Up to

1246-626: A result of the merger of Reed International, a British trade book and magazine publisher, and Elsevier, a Netherlands-based scientific publisher. The company is publicly listed, with shares traded on the London Stock Exchange , Amsterdam Stock Exchange and New York Stock Exchange (ticker symbols: London: REL, Amsterdam: REN, New York: RELX). The company is one of the constituents of the FTSE 100 Index , AEX Index , Financial Times Global 500 and Euronext 100 Index. The company, which

1335-411: A specific unit in a given sample and one or more features of the unit. The objective of these models is to assess the possibility that a unit in another sample will display the same pattern. Predictive model solutions can be considered a type of data mining technology. The models can analyze both historical and current data and generate a model in order to predict potential future outcomes. Regardless of

1424-462: A study conducted by IDC Analyze the Future, Dan Vasset and Henry D. Morris explain how an asset management firm used predictive analytics to develop a better marketing campaign. They went from a mass marketing approach to a customer-centric approach, where instead of sending the same offer to each customer, they would personalize each offer based on their customer. Predictive analytics was used to predict

1513-520: A total cost avoidance of more than $ 843.7 million. In 2017, LexisNexis Risk Solutions developed the Global Business Coalition for Education's Rapid Education Action (REACT) database to record private sector educational contributions and assets that can be deployed quickly in the wake of a humanitarian emergency. The Public Safety Data Exchange (PSDEX) is a contributory database that of more than 1,300 law enforcement agencies across

1602-402: A variation around the average that has a constant amplitude, resulting in statistically similar time patterns. Through this, variables are analyzed and data is filtered in order to better understand and predict future values. One example of an ARIMA method is exponential smoothing models. Exponential smoothing takes into account the difference in importance between older and newer data sets, as

1691-549: A world of technological advances where more and more data is created and stored digitally, businesses are looking for ways to take advantage of this opportunity and use this information to help generate profits. Predictive analytics can be used and is capable of providing many benefits to a wide range of businesses, including asset management firms, insurance companies, communication companies, and many other firms. Every company that uses project management to achieve its goals benefits immensely from predictive intelligence capabilities. In

1780-415: Is a British multinational information and analytics company headquartered in London , England. Its businesses provide scientific , technical and medical information and analytics; legal information and analytics; decision-making tools; and organise exhibitions. It operates in 40 countries and serves customers in over 180 nations. It was previously known as Reed Elsevier , and came into being in 1993 as

1869-428: Is a desktop and web program for managing and sharing research papers, discovering research data and collaborating online. Elsevier is the world's largest publisher of academic articles. It published 600,000 articles in 2021. Its best-known titles are The Lancet and Cell . In 1995, Forbes magazine (wrongly) predicted Elsevier would be "the first victim of the internet" as it was disrupted and disintermediated by

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1958-432: Is assigned a percentile rank on a scale of 0 (low-risk) to 100 (high-risk) across various parameters. The map is updated regularly to quickly address the care needs of the community. In June 2020, the group added national telehealth trending insights to its COVID-19 Data Resource Center to show exponential growth of telehealth adoption resulting from the COVID-19 pandemic. RELX RELX plc (pronounced "Rel-ex")

2047-537: Is called RX, formerly Reed Exhibitions until 2021. It is the world's largest exhibitions company, running 500 shows for 140,000 exhibitors and 7m visitors. ReedPop, part of RX, organises popular culture events including New York Comic Con and PAX . In February 2018, ReedPop acquired Gamer Network , a British Mass Media company that owns a number of video game journalism sites including Eurogamer , Rock Paper Shotgun and VG247 . Ecommerce store The Haul focused on pop culture memorabilia and merchandise

2136-474: Is composed of former Federal Bureau of Investigation (FBI), Secret Service, metropolitan police department and other criminal justice experts, in partnership with LexisNexis Risk Solutions leaders. The LexisNexis Accurint Virtual Crime Center gives law enforcement “greater visibility into crime in both their jurisdictions and nationwide by linking billions of public records with agency-provided data.” It links to PSDEX and brings together disconnected data to provide

2225-776: Is that predictive analytics provides a predictive score (probability) for each individual (customer, employee, healthcare patient, product SKU, vehicle, component, machine, or other organizational unit) in order to determine, inform, or influence organizational processes that pertain across large numbers of individuals, such as in marketing, credit risk assessment, fraud detection, manufacturing, healthcare, and government operations including law enforcement. Predictive analytics involves using statistical techniques and machine learning algorithms to analyze historical data and make forecasts about future events. The risks include data privacy issues, potential biases in data leading to inaccurate predictions, and over - reliance on automated systems. Extending

2314-812: The British Medical Journal , published an editorial in the Journal of the Royal Society of Medicine arguing that Reed Elsevier's involvement in both the arms trade and medical publishing constituted a conflict of interest. Subsequently, in June the company announced that they would be exiting the defence exhibition business during the second half of the year. In November 2019, legal scholars and human rights activists called on RELX to cease work with U.S. Immigration and Customs Enforcement because their product LexisNexis directly contributes to

2403-498: The Federal Trade Commission for multiple failures of security practice in how the data was stored and protected. The settlement required Reed Elsevier and Seisint to establish and maintain a comprehensive security program to protect nonpublic personal information. Between 2005 and 2007, members of the medical and scientific communities, which purchase and use many journals published by Reed Elsevier, agitated for

2492-632: The Research Works Act , although it no longer supports the last. Because of this, members of the scientific community have boycotted Elsevier journals. In January 2012, the boycott gained an online pledge and petition ( The Cost of Knowledge ) initiated by mathematician and Fields medalist Sir Timothy Gowers . The movement has received support from noted science bloggers, such as biologist Jonathan Eisen . Between 2012 and February 2023, about 20,500 scientists signed The Cost of Knowledge boycott. On 28 February 2019, following long negotiations,

2581-547: The US Census Bureau (US population) and the UN DESA (world population), the tracker provides metrics and analysis for locations across the globe, with maps that drill down to country and regional levels, helping to understand how the virus is propagating. In July 2020, researchers from Florida Atlantic University 's College of Engineering and Computer Science in collaboration with LexisNexis Risk Solutions, received

2670-524: The University of California announced it would be terminating all subscriptions with Elsevier. On 16 March 2021, following further negotiations and significant changes including (i) universal open access to University of California research and (ii) containing the "excessively high costs" being charged by publishers, the university renewed its subscription. As a data broker Reed Elsevier collected, used, and sold data on millions of consumers. In 2005,

2759-759: The Wabigoon River in Ontario Canada by a corporate subsidiary between 1962 and 1970 was "one of the worst cases of environmental poisoning in Canadian history." Reed sold the Dryden Mill to Great Lakes Forest Products in 1980. As of 2017, Grassy Narrows First Nation chief Simon Fobister stated that the river remained highly contaminated. Reed Elsevier has been criticised for the high prices of its journals and services, especially those published by Elsevier. It has also supported SOPA , PIPA and

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2848-453: The deportation of illegal immigrants . Predictive analytics Predictive analytics is a form of business analytics applying machine learning to generate a predictive model for certain business applications. As such, it encompasses a variety of statistical techniques from predictive modeling and machine learning that analyze current and historical facts to make predictions about future or otherwise unknown events. It represents

2937-588: The 1930s, Elsevier remained a small family-owned publisher, with no more than ten employees. After the war it launched the weekly Elsevier magazine, which turned out to be very profitable. A rapid expansion followed. Elsevier Press Inc. started in 1951 in Houston , Texas, USA, and in 1962 publishing offices were opened in London and New York. Multiple mergers in the 1970s led to name changes, settling at "Elsevier Scientific Publishers" in 1979. In 1991, two years before

3026-581: The Federal Reserve Board might be interested in predicting the unemployment rate for the next year. These types of problems can be addressed by predictive analytics using time series techniques (see below). They can also be addressed via machine learning approaches which transform the original time series into a feature vector space, where the learning algorithm finds patterns that have predictive power. Many businesses have to account for risk exposure due to their different services and determine

3115-612: The Mark Allen Group. RELX's Scientific, Technical & Medical business provides information, analytics and tools that help investors make decisions that improve scientific and healthcare outcomes. It operates under the name of Elsevier: ScienceDirect , an online database of primary research, contains 18 million documents. Scopus is a bibliographic database containing abstracts and citations for academic journal articles. It contains more than 50 million items in more 20,000 titles from 5,000 publishers worldwide. Mendeley

3204-627: The Netherlands. In 2017, the company sold New Scientist magazine. In January 2019, RBI sold its Dutch agricultural media and selected international agricultural media portfolio (including Poultry World ) to Doorakkeren BV. In August 2019, Flight International and FlightGlobal were sold to DVV Media Group . In December 2019, RBI announced plans to sell the Farmers Weekly magazine title, website and related platforms, events and awards to MA Agriculture Limited, part of

3293-625: The Reed Business Information chemicals portfolio. LexisNexis Risk Solutions moved into Collections after Reed Elsevier acquired the public records businesses of Dolan Media Company in 2003. That same year, the LexisNexis Special Services Inc. (LNSSI) was founded to provide government agencies with global sources of data fusion technology and analytics. LNSSI also granted Reed Elsevier the ability to participate in classified U.S. government programs as

3382-615: The Risk & Information Analytics Group (RIAG) within LexisNexis , a corporation offering legal database services. In 2000, Reed Elsevier acquired RiskWise and PeopleWise, which together became the basis of RIAG. The creation of RIAG expanded LexisNexis offerings to include public records collections. In 2000, LexisNexis also launched HPCC Systems, its data-intensive computing system platform. In 1994, Reed Business Information (later Reed Elsevier and now RELX),acquired ICIS-LOR thereby adding extensive price reporting on chemicals and oil to

3471-546: The U.K.’s foremost experts on missing persons), LexisNexis Risk Solutions and Missing People scoped a training course to assist law enforcement, schools, hospitals and others with missing cases, particularly those involving children who are abducted and/or trafficked. Since 2013, the Florida Department of Children and Families used LexisNexis Risk Solutions for its identity management solutions to prevent food stamp fraud and improve operational efficiencies, achieving

3560-489: The U.S. healthcare industry's response to the COVID-19 pandemic. By combining its own data and analytics with those of other industry stakeholders, the company created insights to be used by healthcare organizations, public health officials and health researchers to help allocate resources to the populations with the greatest need. The COVID-19 Data Resource Center features heat maps with insights that identify at-risk populations and correlated gaps in provider coverage. Each county

3649-448: The U.S. that was created by LexisNexis Risk Solutions. PSDEX helps its participants solve crimes, identify threats and anticipate future threats. LexisNexis Risk Solutions created an Advisory Committee to advise on policy and governance of PSDEX data, to help assure adherence to federal Criminal Justice Information Services (CJIS), state and local standards for security and privacy of law enforcement-provided data. The PSDEX Advisory Committee

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3738-729: The United States in 1977 by acquiring Cahners Publications, founded by Norman Cahners . In 1985, the company decided to rationalise its operations, focusing on publishing and selling off its other interests. Sanderson was sold to WestPoint Pepperell, Inc. of Georgia , United States , that year, while Crown Paint and Polycell were sold to Williams Holdings in 1987. The company's paper and packaging production operations were bundled together to form Reedpack and sold to private equity firm Cinven in 1988. Reed expanded its publishing by acquiring Technical Publishing from Dun & Bradstreet . In 1880, Jacobus George Robbers started

3827-458: The Value of Your Data Warehousing Investment. |url= http://download.101com.com/pub/tdwi/files/pa_report_q107_f.pdf}} </ref> Predictive analytics statistical techniques include data modeling , machine learning , AI , deep learning algorithms and data mining . Often the unknown event of interest is in the future, but predictive analytics can be applied to any type of unknown whether it be in

3916-592: The World Wide Web. LexisNexis Risk Solutions provide decision-making tools which help banks spot money launderers and insurance companies weed out fraudulent claims. The business claims to have saved the state of Florida more than $ 60 million a year by preventing benefit fraud. Accuity provides financial crime compliance software which allows institutions to comply with sanctions and anti-money laundering compliance programmes. It offers Know Your Customer, KYC , online subscription-based data and software for

4005-520: The aviation, finance and travel industries. RELX's legal business operates under the LexisNexis brand. Many of LexisNexis' brands date back to the nineteenth century or earlier. These include Butterworths and Tolley in the UK and JurisClasseur in France. In 2019, 85% of its revenues were electronic. The LexisNexis legal and news database contains 119bn documents and records. RELX's exhibitions business

4094-463: The benefits in employee efficiency and effectiveness, as well as profits. The percentage of projects that fail is fairly high—a whopping 70% of all projects fail to deliver what was promised to customers. The implementation of a management process, however, is shown to reduce the failure rate to 20% or below. ARIMA univariate and multivariate models can be used in forecasting a company's future cash flows , with its equations and calculations based on

4183-540: The children's divisions of Heinemann, Methuen, Hamlyn and Mammoth to the Egmont Group . In February 2007, the company announced its intention to sell Harcourt, its educational publishing division. On 4 May 2007 Pearson , the international education and information company, announced that it had agreed to acquire Harcourt Assessment and Harcourt Education International from Reed Elsevier for $ 950m in cash. In July 2007, Reed Elsevier announced its agreement to sell

4272-508: The closeness of the two balances. The STAR methods operate using regression analysis, and fall into two methods. The first is the STAR monthly balance approach, and the conditional expectations made and regression analysis used are both tied to one month being audited. The other method is the STAR annual balance approach, which happens on a larger scale by basing the conditional expectations and regression analysis on one year being audited. Besides

4361-422: The company to cut its links to the arms trade. Two UK academics, Tom Stafford of Sheffield University and Nick Gill, launched petitions calling for it to stop organising arms fairs. A subsidiary, Spearhead, organised defence shows, including an event where it was reported that cluster bombs and extremely powerful riot control equipment were offered for sale. In February 2007 Richard Smith , former editor of

4450-697: The company's work in advancing the Rule of Law - recognizing the company's commitment to strengthening equality under law, transparency of law, independent judiciaries and accessible legal remedy. The Elsevier Foundation supports libraries in developing countries, women scientists and nursing facilities. In 2016 it committed $ 1m a year, for 3 years, to programmes encouraging diversity in science, technology and medicine and promoting science research in developing countries. Programmes operated by LexisNexis Legal & Professional include: Programmes operated by LexisNexis Risk Solutions include: The mercury contamination of

4539-406: The conditional expectations. These conditional expectations are then compared to the actual balances reported on the audited account in order to determine how close the reported balances are to the expectations. If the reported balances are close to the expectations, the accounts are not audited further. If the reported balances are very different from the expectations, there is a higher possibility of

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4628-443: The costs needed to cover the risk. Predictive analytics can help underwrite these quantities by predicting the chances of illness, default , bankruptcy , etc. Predictive analytics can streamline the process of customer acquisition by predicting the future risk behavior of a customer using application level data. Predictive analytics in the form of credit scores have reduced the amount of time it takes for loan approvals, especially in

4717-413: The data found in the single moving average methods by taking an average of the median-numbered data set. However, as the median-numbered data set is difficult to calculate with even-numbered data sets, this method works better with odd-numbered data sets than even. Predictive Modeling is a statistical technique used to predict future behavior. It utilizes predictive models to analyze a relationship between

4806-580: The data in order to create models. Create and test models in order to evaluate if they are valid and will be able to meet project goals and metrics. Apply the model's results to appropriate business processes (identifying patterns in the data doesn't necessarily mean a business will understand how to take advantage or capitalize on it). Afterward, manage and maintain models in order to standardize and improve performance (demand will increase for model management in order to meet new compliance regulations). Generally, regression analysis uses structural data along with

4895-452: The data must be smoothed, or the random variance of the data must be removed in order to reveal trends in the data. There are multiple ways to accomplish this. Single moving average methods utilize smaller and smaller numbered sets of past data to decrease error that is associated with taking a single average, making it a more accurate average than it would be to take the average of the entire data set. Centered moving average methods utilize

4984-445: The difference in the time being audited, both methods operate the same, by comparing expected and reported balances to determine which accounts to further investigate. Furthermore, the incorporation of analytical procedures into auditing standards underscores the increasing necessity for auditors to modify these methodologies to suit particular datasets, which reflects the ever-changing nature of financial examination. As we move into

5073-420: The financial services industry. The company's services include helping banks and financial institutions screen for high risk customers and transactions, and providing databases such as Bankers Almanac which allows clients to find and validate bank payment routing data. Accuity serves financial services clients worldwide. Cirium (previously known as FlightGlobal) provides data and aviation analytics products to

5162-485: The first half of 2021. From 2011 to 2014, the average annual value of disposals was about $ 300m. The predictability of the company's results in recent years has led to a re-rating of the shares. The RELX Environmental Challenge awards grants to projects advancing access to safe water and sanitation. In 2019, Mike Walsh, CEO of LexisNexis, was honoured by the UN Foundation with a Global Leadership award for

5251-453: The importance of an independent variable in its relationship to the dependent variable. In this case, the dependent variable is the account balance. Through this the most important independent variable is used in order to create the conditional expectation and, similar to the ARIMA method, the conditional expectation is then compared to the account balance reported and a decision is made based on

5340-441: The increased computing power also comes more data and applications, meaning a wider array of inputs to use with predictive analytics. Another technological advance includes a more user-friendly interface, allowing a smaller barrier of entry and less extensive training required for employees to utilize the software and applications effectively. Due to these advancements, many more corporations are adopting predictive analytics and seeing

5429-403: The independent and dependent variables which can be used to predict values of the dependent variable based only on the independent variable. With the regression line, the program also shows a slope intercept equation for the line which includes an addition for the error term of the regression, where the higher the value of the error term the less precise the regression model is. In order to decrease

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5518-486: The level of data analysis and the quality of assumptions. Predictive analytics is often defined as predicting at a more detailed level of granularity, i.e., generating predictive scores (probabilities) for each individual organizational element. This distinguishes it from forecasting . For example, "Predictive analytics—Technology that learns from experience (data) to predict the future behavior of individuals in order to drive better decisions." In future industrial systems,

5607-497: The likelihood that a possible customer would accept a personalized offer. Due to the marketing campaign and predictive analytics, the firm's acceptance rate skyrocketed, with three times the number of people accepting their personalized offers. Technological advances in predictive analytics have increased its value to firms. One technological advancement is more powerful computers, and with this predictive analytics has become able to create forecasts on large data sets much faster. With

5696-486: The merger with Reed, Elsevier acquired Pergamon Press in the UK. Cahners Publishing, founded by Norman Cahners , was the largest U.S. publisher of trade or business magazines as of his death in 1986. Reed International acquired the company in 1977. In February 1997, Reed Elsevier divested its trade publishing group (including Heinemann , Methuen , Secker & Warburg , Sinclair-Stevenson , Mandarin, Minerva and Cedar) to Random House . In 1998, Reed Elsevier sold

5785-436: The methodology used, in general, the process of creating predictive models involves the same steps. First, it is necessary to determine the project objectives and desired outcomes and translate these into predictive analytic objectives and tasks. Then, analyze the source data to determine the most appropriate data and model building approach (models are only as useful as the applicable data used to build them). Select and transform

5874-480: The migration of public records to HPCC Systems the same year. Reed assumed $ 600 million in debt with the acquisition. In September 2009, ChoicePoint was integrated with the Risk & Information Analytics Group (RIAG), and the combined new entity became LexisNexis Risk Solutions. In 2011, LexisNexis Risk Solutions was officially launched as a separate company within the Reed Elsevier portfolio. Mark Kelsey

5963-506: The more recent data is more accurate and valuable in predicting future values. In order to accomplish this, exponents are utilized to give newer data sets a larger weight in the calculations than the older sets. Time series models are a subset of machine learning that utilize time series in order to understand and forecast data using past values. A time series is the sequence of a variable's value over equally spaced periods, such as years or quarters in business applications. To accomplish this,

6052-528: The mortgage market. Proper predictive analytics can lead to proper pricing decisions, which can help mitigate future risk of default. Predictive analytics can be used to mitigate moral hazard and prevent accidents from occurring. Police agencies are now utilizing proactive strategies for crime prevention. Predictive analytics, which utilizes statistical tools to forecast crime patterns, provides new ways for police agencies to mobilize resources and reduce levels of crime. With this predictive analytics of crime data,

6141-494: The next period. The DKW (1998) model derives this relationship through the relationships of accruals and cash flows to accounts payable and receivable, along with inventory. Some child welfare agencies have started using predictive analytics to flag high risk cases. For example, in Hillsborough County, Florida , the child welfare agency's use of a predictive modeling tool has prevented abuse-related child deaths in

6230-469: The past values of certain factors contributing to cash flows. Using time-series analysis, the values of these factors can be analyzed and extrapolated to predict the future cash flows for a company. For the univariate models, past values of cash flows are the only factor used in the prediction. Meanwhile the multivariate models use multiple factors related to accrual data, such as operating income before depreciation. Another model used in predicting cash-flows

6319-524: The past values of independent variables and the relationship between them and the dependent variable to form predictions. In linear regression, a plot is constructed with the previous values of the dependent variable plotted on the Y-axis and the independent variable that is being analyzed plotted on the X-axis. A regression line is then constructed by a statistical program representing the relationship between

6408-434: The past, present or future. For example, identifying suspects after a crime has been committed, or credit card fraud as it occurs. The core of predictive analytics relies on capturing relationships between explanatory variables and the predicted variables from past occurrences, and exploiting them to predict the unknown outcome. It is important to note, however, that the accuracy and usability of results will depend greatly on

6497-457: The point-of-quote in the U.K.'s Property and Casualty Insurance industry. In August 2016, LexisNexis Risk Solutions acquired the Crash and Project business group Appriss, a public safety business that provides technology solutions for the efficient collection of crash reports and electronic citations. LexisNexis will utilize the acquired technology within its LexisNexis Coplogic Solutions portfolio,

6586-429: The police can better allocate the limited resources and manpower to prevent more crimes from happening. Directed patrol or problem-solving can be employed to protect crime hot spots, which exhibit crime densities much higher than the average in a city. Several firms have emerged specializing in predictive analytics in the field of professional sports for both teams and individuals. While predicting human behavior creates

6675-599: The reasonableness of reported account balances being investigated is determined. Auditors accomplish this process through predictive modeling to form predictions called conditional expectations of the balances being audited using autoregressive integrated moving average (ARIMA) methods and general regression analysis methods, specifically through the Statistical Technique for Analytical Review (STAR) methods. The ARIMA method for analytical review uses time-series analysis on past audited balances in order to create

6764-404: The remaining Harcourt Education business, including international imprint Heinemann , to Houghton Mifflin for $ 4 billion in cash and stock. Between 2006 and 2019, in 65 separate deals, the company systematically sold its 300 print, business to business magazine titles, reducing the proportion of print revenues from 51% to 9%. Advertising, which had been the largest source of revenues when RELX

6853-419: The target population. The predicting of the outcome of juridical decisions can be done by AI programs. These programs can be used as assistive tools for professions in this industry. Often the focus of analysis is not the consumer but the product, portfolio, firm, industry or even the economy. For example, a retailer might be interested in predicting store-level demand for inventory management purposes. Or

6942-694: The then-dangerous print trade. In 1965, Reed Group, as it was then known, became a conglomerate , creating its Decorative Products Division with the purchase of Crown Paints , Polycell and Sanderson 's wallpaper and DIY decorating interests. In 1970, Reed Group merged with the International Publishing Corporation and the company name was changed to Reed International Limited. The company continued to grow by merging with other publishers and produced high quality trade journals as IPC Business Press Ltd and women's and other consumer magazines as IPC magazines Ltd. Reed entered

7031-401: The value of predictive analytics will be to predict and prevent potential issues to achieve near-zero break-down and further be integrated into prescriptive analytics for decision optimization. The approaches and techniques used to conduct predictive analytics can broadly be grouped into regression techniques and machine learning techniques. Machine learning can be defined as the ability of

7120-418: The value of the error term, other independent variables are introduced to the model, and similar analyses are performed on these independent variables. Additionally, multiple linear regression (MLP) can be employed to address relationships involving multiple independent variables, offering a more comprehensive modeling approach. An important aspect of auditing includes analytical review. In analytical review,

7209-565: The weak economy including an advertising slump. Variety , the company's last remaining North American title, was sold in October 2012. In 2014, Reed Business Information sold BuyerZone, an online marketplace; emedia, an American provider of research for IT buyers and vendors; and a majority stake in Reed Construction Data , a provider of construction data. In 2016, RELX sold Elsevier Weekly and BeleggersBelangen in

7298-593: Was added to ADAM to allow members of the public to sign up for missing child email alerts in their area. More than 1.8 million individuals, private enterprises, hospitals, schools, news outlets and law agencies have signed up to receive automated ADAM alerts. In 2017, LexisNexis Risk Solutions began working with the charity Missing People and the UK National Crime Agency to support their Child Rescue Alert service, which disseminates missing alerts via text message. Along with Charlie Hedges Advisory (one of

7387-620: Was announced that XpertHR was to be renamed, Brightmine. LexisNexis Risk Solutions is a subsidiary of RELX (tickers: RELX and REL.UK) LexisNexis Risk Solutions developed the ADAM ( Automated Delivery of Alerts on Missing children ) program in 2000 to help the National Center for Missing & Exploited Children (NCMEC) find missing children. ADAM distributes missing child alert posters to law enforcement, hospitals, libraries and businesses within specific geographic search areas. The system

7476-453: Was developed in 1998 and is known as the Dechow, Kothari, and Watts model, or DKW (1998). DKW (1998) uses regression analysis in order to determine the relationship between multiple variables and cash flows. Through this method, the model found that cash-flow changes and accruals are negatively related, specifically through current earnings, and using this relationship predicts the cash flows for

7565-431: Was expanded in 2017 to allow individuals to receive an email alert when a child is reported missing near to them. In 2017, a feature was added to ADAM to allow NCMEC to focus on a highway where a missing child and abductor may be travelling to distribute posters to recipients along the relevant corridor. Combining this filter along with the system's radius search allows for broad, yet targeted, poster coverage. Functionality

7654-634: Was founded, represented just 1% of sales in 2018. In July 2009, Reed Elsevier announced its intention to sell most of its North American trade publications, including Publishers Weekly , Broadcasting & Cable , and Multichannel News , although it planned to retain Variety . In April 2010, Reed Elsevier announced that it had sold 21 US magazines to other owners in recent months, and that an additional 23 US trade magazines, including Restaurants & Institutions , Hotels , and Trade Show Week would cease publication. The closures were mostly due to

7743-643: Was launched in 2021. Popverse , a popular culture website, was founded in 2022. It sold the Gamer Network to IGN Entertainment , division of Ziff Davis , in May 2024. However, it retained the Popverse outlet. As of 2021, the board of directors consisted of: In 2019, Harvard Business Review ranked Erik Engström the world's 11th best performing CEO. In August 2020, RELX announced Sir Anthony Habgood would retire as Chair, to be replaced by Paul Walker in

7832-669: Was named CEO of LexisNexis Risk Solutions in December 2012. Over the next two years the company purchased 12 companies, including WorldCompliance, Enclarity, Mapflow, Tracesmart, Wunelli and Health Market Science. In January 2013, LexisNexis Risk Solutions announced it would sell its background screening business to the Palo Alto-based private equity firm Symphony Technology Group (STG). STG planned to combine LexisNexis screening with its portfolio company, First Advantage. In December 2014, LexisNexis Risk Solutions acquired Coplogic,

7921-486: Was previously known as Reed Elsevier, came into being in 1993, as a result of the merger of Reed International, a British trade book and magazine publisher, and Elsevier , a Netherlands-based scientific publisher. The company re-branded itself as RELX in February 2015. In 1895, Albert E. Reed established a newsprint manufacturing operation at Tovil Mill near Maidstone , Kent . The Reed family were Methodists and encouraged good working conditions for their staff in

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