Mining Your Own Business ~ Product Review: WizRule from Wizsoft, Inc.

Bob   Denker
Bob Denker Founder / President, Denker Consulting Read Author Bio || Read All Articles by Bob Denker

For this edition of Technology Review, Bob Denker, President of Denker Consulting reviews a rule based tool from WizSoft called WizRule. -- Neal Fishman.


MINING YOUR OWN BUSINESS

Product Review: WizRule from Wizsoft, Inc.

By Bob Denker, CIA, CFE, CISA


Product Description

WizRule is a PC data-auditing tool based on data mining technology. WizRule performs complex analysis of your data, revealing inconsistencies, errors and cases that require further investigation. WizRule reveals all the if-then rules, mathematical formula rules, and spelling irregularities. The software reads the database once and then automatically separates cases deviating from the rules into data entry errors and suspicious errors. WizRule calculates the degree of deviation from the norm for each field in each record in the database with respect to the discovered rules.
WizRule can be used in Auditing, fraud detection, data scrubbing and due diligence reviews. The ideal scenario is to use WizRule after running your data through Auditing analysis software such as ACL or IDEA. These programs are usually used in a structured fashion. That is, the auditor has devised a testing plan to apply against the data, such as stratification, classification, testing for duplicates, etc. However, the auditor may miss relationships that exist within the data because they do not appear to be meaningful or logical. An example that comes to mind is an audit of a dental claims system where Wizrule uncovered anomalies within the zip code field. WizRule revealed that the exceptions to the rule were that patients lived nearby the dentistís office. The rule was that patientís lived far away from the dentist. Further investigation revealed that the dentist was using a phony mailing address, so that he could avail himself of a higher rate schedule based upon the location of the dental providerís address.
A demo version of WizRule can be downloaded from WizSoft's website: www.wizsoft.com. Originally released in 1994, the current version of WizRule is Version 3.3. Version 4.0 is expected this summer.


Pros

The learning curve to get WizRule up and running is very small. Any user with familiarity with Microsoft Access or Microsoft Excel should have little trouble mastering this product. The opportunity for immediate payback is there because WizRule is relatively inexpensive. The cost per license is only $1,395. The yearly maintenance fee, which includes updates and technical support is only $279.


Weaknesses

If the user is not sufficiently familiar with the data, WizRule can generate an almost limitless set of rules that can mask important findings.


Vendor Support

In addition to telephone support, WizSoft, Inc. has an Internet site that is devoted to the exchange of ideas and FAQs. Wizsoft also holds quarterly user group meetings. Training classes conducted by Wizsoft are also available.


Documentation

A user's guide for both the installation and operation of WizRule is included with the software.


About WizSoft

WizSoft, Inc. develops, licenses and supports software products based on mathematical algorithms for the business sector, including data mining tools, accounting and inventory management, operations research, computational linguistics, and biometrics. WizSoft, Inc. is a wholly owned subsidiary of WizSoft, Ltd., which is headquarted in Tel-Aviv, Israel.
General information - info@wizsoft.com
Technical Support - support@wizsoft.com
Sales and Marketing - sales@wizsoft.com

WizSoft, Inc.
6800 Jericho Turnpike, Suite 120W
Syosset, NY 11791
USA
(516) 393-5841
You can visit WizSoft's website at www.wizsoft.com


If youíre using a Business Rules product or tool, you can submit your own evaluation of the product and weíll post it on our web site. Additionally, if you would like to see a write-up of a particular tool, let me know. My email address is: nfishman@brcommunity.com

Standard citation for this article:


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Bob Denker , "Mining Your Own Business ~ Product Review: WizRule from Wizsoft, Inc." Business Rules Journal Vol. 2, No. 5, (May 2001)
URL: http://www.brcommunity.com/a2001/n002.html

About our Contributor:


Bob   Denker
Bob Denker Founder / President, Denker Consulting

Bob Denker is the founder and president of Denker Consulting, a New York based consulting firm. Bob holds the following certifications: CIA (Certified Internal Auditor), CFE (Certified Fraud Examiner), and CISA (Certified Information Systems Auditor). Bob can be reached at (718) 948-2023 or via email at ProfDenker@aol.com

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