Orango | Machine Learning for Comparison Analysis

Machine Learning for Comparison Analysis

LRF Konsult is the largest accounting and consulting service company in Sweden. It wants to make it easier for its 75,000 customers to run their businesses, and says: “It is through the consulting services that we make a true difference.” To increase the quality and efficiency of LRF’s consulting services, Orango, together with Jönköping University, developed a machine learning solution for comparison analysis.

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LRF Konsult uses machine learning to improve its services

44,000 Customers in the Consulting System

Today, LRF Konsult uses the Data Storage 2.0 system as a strategic tool for its consulting services. The system is used to manage the statement of a client’s accounts, consisting of the customer data, comparison criteria, and KPI information that are used to present various types of reports and comparisons. The system is used by LRF Konsult’s consultants in their consulting work and is the most important tool in their day-to-day job. There are 44,000 customers connected to the system.

Comparison Reports Are Challenging

One of the system challenges is creating good comparison reports. These reports are used to compare a customer’s operations to those of similar companies. To create a comparison report, the customer has to fulfill a certain number of criteria, but the preselected criteria rarely match reality. It takes experience and insight into operations to manually adjust the criteria, and it takes a lot more time to set up a good comparison report.

Technological Compilations with Machine Learning

Orango, together with researchers from Jönköping University, has developed a prototype for technological compiling of comparison analyses for Data Storage 2.0. It presents the comparison groups and the most important criteria for the selected customer.

The machine learning solutionmeans, among other things:

  • Increased quality in the comparison reports thanks to the possibility of making comparisons across the entire customer database. The comparison group that is created is based on data that customers have in common and which is thus relevant to comparisons.
  • The process of compiling a comparison report has become more efficient for the consultants. It is also easier for consultants who have less experience and insight into operations to compile high-quality comparison reports.

LRF Konsult is the largest accounting and consulting service company in Sweden, with approximately 1,400 employees in just over 130 locations and over 75,000 customers. The company offers industry-specific services for accounting and taxation, law, business consulting, and real estate. LRF Konsult has a yearly turnover of just over a billion Swedish kronor.

The research project “DATAMINE” aims to answer the question:How can algorithms improve decisions?” The project is financed by Jönköping County and Jönköping University. The project was started in 2017 and will last for three years. It is run by Jönköping University together with Orango, Hallspressen, and Infomaker. The scientific method used is technical action research, and the results will be published in scientific articles.