With unemployment application submissions reaching record numbers over the past year, state and local agencies in the United States have faced the challenge of processing unprecedented numbers of claims per week. The digital infrastructure most agencies have in place is unable to handle this volume, resulting in constituents waiting longer, and bad actors taking advantage of vulnerable systems. The Department of Labor Inspector General estimates that $63 billion in claims distributed is either an improper payment or fraud. 

Validating claims also requires secure data sharing with other agencies for document and identity verification. Government leaders need a way to allow case adjudicators to quickly and confidently release backlogged claims, integrate with existing systems, and segment legitimate claims from potentially fraudulent ones — all within limited government budgets — securely and at scale.

Implementing a fraud detection solution on Google Cloud

States were under pressure to release payments, while also filtering out potentially fraudulent claims. SpringML and Google Cloud developed a framework to give adjudicators a reliable verification process that quickly filters potentially fraudulent claims, while processing the remaining claims so benefits reach citizens in a timely manner. SpringML and Google Cloud, applied AI-powered machine learning models to detect anomalous patterns in large datasets. Using Google Cloud tools, SpringML implemented a solution to streamline workflows, improve efficiencies, automate processes and identify potentially fraudulent claims.

SpringML used a variety of Google Cloud products to deliver a fraud detection solution, including:

• Google Cloud Storage to store and manage data
• BigQuery to store tabular data and BigQuery Machine Learning (BQML) to conduct machine learning on that data
• AutoML solutions to build predictive models and risk scoring
• Visualization tools such as Looker and Data Studio to present data and help government leaders make informed decisions.

Implementing machine learning to detect improper payments allows agencies to classify claims as “fraud” or “not fraud” based on the number of flags, as well as prioritize the most urgent claims. Deploying intelligent virtual agents to handle frequently asked questions meant that live agents could focus their time on more challenging cases. 

Even once the pandemic is behind us, there will be bad actors trying to take advantage of overwhelmed or legacy systems. We’ve identified a few best practices for agencies managing enormous case loads and looking to improve improper payment analytics: 

• Move your systems to the cloud. Many on-premises legacy systems can’t update their applications and scale to meet the volume of claims. Moving to a cloud environment enables rapid solution deployment and ingestion of large amounts of data without fear of overloading the system. The cloud scales with you–cost-effectively and securely. 
• Understand patterns in the data. The answer is always in the data — we used deep analysis to help uncover suspicious patterns in large data sets. We implemented unsupervised machine learning to learn behaviors and create configurable rules that adjust to new information that comes into the system. We can uncover patterns that are likely associated with fraud – ones that a human might have missed. 
• Use AI/ML tools to automate your existing systems and teams. These tools enable humans to work smarter and more efficiently. We automate anomaly detection and create dashboards for adjudicators to rapidly process claims. We are enabling the Wisconsin Department of Workforce Development by implementing automatic calculations and processing of recharge amounts, resulting in faster processing times and fewer human errors. Proactive fraud detection and timely calculation of recharge payment allowed DWD to ensure the benefits reached the right individuals.
• Build flexibility into your systems. We discovered that fraud patterns change over time. For instance,flags for fraud during March-May 2020 were vastly different from those we found in June-July 2020. Google Cloud tools make it easy to continually update algorithms to detect patterns and integrate external data sources.

Using Google Cloud tools, we can update digital infrastructure and incorporate machine learning best practices to help organizations efficiently process large volumes of claims and identify high probability fraudulent ones. SpringML provides consulting and implementation services and industry-specific analytics solutions that deliver high-impact business value to accelerate data-driven digital transformation. Learn more about fraud detection and how to improve improper payments analytics by watching our webinar. 

This is a guest post authored by Firebase customer, Anton Ivanov, Founder & CEO of DealCheck

Real estate investing is a fantastic way to build a stream of passive income and grow your wealth. Numerous studies have pointed out that real estate investing has created more millionaires throughout history than any other form of investing (like this one and this one). So why don’t more people do it?

I asked myself this very question a few years ago after talking to a group of friends about the success I’ve had with real estate, and listening to their reasons why they think it’s out of their reach.

A common theme among them was that they viewed it as something too difficult to learn and master. There were too many steps, the learning curve was steep and there was a lot of room for mistakes for somebody just starting out, especially when analyzing the financial performance of potential investment properties.

Traditionally, most investors used spreadsheets to do the math – which works only if you know what and how you’re calculating something. But if you don’t know that, it’s very easy to make mistakes and overlook things. And no one wants to make mathematical errors before a huge purchase like an investment property.

Where do I even begin?!

And that’s when I had the idea to build DealCheck – a cloud-based, easy-to-use property analysis tool for real estate investors and agents. I wanted to create a platform that would help new investors learn the ropes and avoid costly mistakes, but at the same time provide the flexibility to perform more advanced analysis with a click of a button.

Making real estate investing easier and more accessible.

The Challenges of Solo Development

I was working as a front-end engineer at the time, so I knew I could build the UI myself, but what about the back-end, data storage, authentication, and a bunch of other things you need for a full-functioning cloud app?

I didn’t know anybody I could bring on as a co-founder, so I set out to research what technologies and platforms I could leverage to help me with the back-end and server infrastructure.

Firebase kept popping up again and again and I began to look at it in more detail. It was then recently acquired by Google and its collection of BaaS (backend-as-a-service) modules seemed to offer the exact solution I needed to build DealCheck.

I was especially impressed with the documentation for each feature and how well all of the different technologies could be tied together to create one unified platform.

It wasn’t long before I signed up and started building the first MVP of the app.

Using Firebase to Quickly Build a Scalable Backend

As the only developer on the project, I had limited time and resources to spend on building the back-end, so I set out to use every Firebase feature that was available at the time to my advantage.

My goal was actually to write as little server-side code as possible and instead focus on leveraging the different Firebase modules to solve three specific challenges:

Challenge #1 – Authentication and User Management

The first one was authentication and user management. DealCheck’s users needed the ability to create their accounts so they can view and analyze properties on any device (more on that later). I wanted to have the ability to sign in with email, Facebook or a Google account.

Firebase Authentication was designed specifically for this purpose and I used it to handle pretty much the entire authentication flow. Out-of-the-box, it has support for all the major social networks, cross-network credential linking and the basic account management operations like email changes, password resets and account deletions.

There was no server-side code required at all – I just needed to build the UI on the front-end.

Email, Facebook and Google sign in powered by Firebase.

And as an added benefit, Firebase Authentication ties directly into the Realtime Database product to create a declarative permissions and access control framework that’s easy to implement and maintain. This helped me make sure user data was protected from unauthorized access, but also facilitate data sharing among users.

Challenge #2 – Cloud Storage with Cross-Device Sync

Next up was data storage. I knew that I wanted DealCheck’s users to be able to use the app and analyze properties online, on iOS and Android. So I needed a real-time, cloud-based database solution that could sync data across any device.

Syncing data across web and mobile is not easy!

Firebase Realtime Database is a NoSQL, JSON-based database solution that was designed exactly for this purpose, and I was actually surprised how great it worked. I used the official AngularJS bindings for Firebase on the front-end to read and write to it directly from the client.

I had to do some extra work on mobile to implement an offline mode with syncing after reconnections, but all-together the code required to make everything work was minimal.

As I mentioned, Firebase Authentication tied directly to the database to facilitate access control, so I really didn’t need to do anything extra there. And I was able to set up automatic daily backups of all the data with a click of a button.

Challenge #3 – Third-Party Integrations

Up to now, I had written exactly 0 lines of server-side code and everything was handled by the client directly. As DealCheck’s development progressed, however, I knew that I would need a server to handle some operations that could not be done in the client.

I wasn’t very experienced with server maintenance and DevOps, but fortunately the Firebase Cloud Functions product was able to solve all of my needs. Cloud Functions are essentially single-purpose functions that can be triggered (or executed) based on a specific HTTP request or events coming from the Authentication, Realtime Database or other Firebase products.

Each function can be run once based on a specific event trigger to perform its prescribed task. You don’t have to worry about provisioning a server instance or managing load – everything is done automatically for you by Firebase.

What’s even cooler, is that Cloud Functions can access the Realtime Database and Cloud Storage buckets of the same project, performing operations on them server-side, as needed.

This is how DealCheck processes subscription payments through Stripe, validates Apple and Google Play mobile subscription receipts, integrates with third-party APIs and updates database records without user interaction.

Bringing in sales comparable data from third-party providers into DealCheck.

Cloud Functions became the “glue” that tied the entire back-end infrastructure together.

Growing from an MVP to 100,000 Users with Firebase

The first version of the DealCheck app was built and launched in less than 5 months with just me on the development team. I definitely don’t think that would have been possible without Firebase powering the back-end infrastructure. Maybe the project wouldn’t have ever launched at all.

While Firebase is awesome for quick MVP development, it’s definitely designed to power production applications at scale as well. As DealCheck grew from a small side-project to one of the most popular real estate apps with over 100k users, all of the Firebase products that we use scaled to support the increasing load.

Moreover, the fantastic interoperability of all Firebase modules allows us to develop and release new features much faster because of the reduced coding requirements and ease of configuration.

So next time you’re looking to build an ambitious project with a small team – take a look at how Firebase can help you reduce development time and provide a suite of powerful tools that scale as your business grows.

This is exactly how DealCheck grew from a simple idea to make property analysis easier and faster, to an app that is helping tens of thousands of people grow their wealth and passive income through real estate investing. It’s a truly awesome and fulfilling experience to see your work positively impact so many people and it wouldn’t have been possible without Firebase.

Access to the cloud has advanced the distribution and consumption of financial information on a global scale. In parallel, the global financial data landscape has been transformed by an influx of alternative data sources, including social media, meteorological data, satellite imagery, and other data. Exchanges and market data providers now find they need to include these new datasets to enrich their products and compete, which has meant they now must consider cloud-based models to keep up with the demands of their customers who expect easy, quick, flexible and cost-efficient ways to consume market data.

To address these needs, today we’re announcing the general availability of Datashare for financial services, a new Google Cloud solution that brings together the entire capital markets ecosystem—data publishers, and data consumers—to exchange market data securely and easily.

Datashare helps organize third-party financial information, making it accessible and useful to market data publishers and data consumers. We open-sourced the entire Datashare solution so market data publishers can now onboard their licensed datasets to Google Cloud securely, quickly and easily, while data consumers can consume that data as a service in tools of their preference, such as BigQuery.

Three ways to distribute and consume your data

Batch data delivery

Datashare provides a batch data delivery mechanism for data publishers to deliver their reference data, historical tick data, alternative market data sources and more via BigQuery, reducing the administrative burden on data consumers to extract insights from data. 

Real-time data streaming delivery

By using this event-based data delivery channel for rapidly changing instrument prices, tick data, orders, news and others via Pub/Sub, data consumers can reliably process individual messages or rewind to a point in time to replay a prior market scenario and test model changes.

Monetizing licensed datasets

Market data publishers can onboard their licensed datasets to Google Cloud and make them available via a one-stop-shop on Google Cloud Marketplace, enabling a new sales channel to expand market reach.

Reference architecture

Check out the diagram below to see how you can share your batch and real-time data directly to your Google Cloud customers with BigQuery and Pub/Sub.

As you can see in the above reference architecture, both publishers and consumers can derive several benefits from the solution:

Benefits for data publishers

• You no longer have to maintain your own delivery and licensing infrastructure.
• You can easily package and deliver granular data products and experiments with SQL.
• You can have a solution that scales with your business as data volumes and number of customers grow.

Benefits for data consumers

• Your data is ready for analysis and machine learning (ML)— you no longer have to maintain extract, transform, and load (ETL) pipelines to load files and transform data.
• You can avoid the expense and burden of maintaining multiple copies of large data files.
• You can be more targeted with consumption of data using BigQuery queries, improving performance, and compliance, and reducing cost.

Accessing the datasets

Google Cloud has been working with multiple industry firms on innovating in the market data space. By using Datashare for publishing, data publishers can make their entire datasets available on Google Cloud. Early adopters of Datashare include firms such as OneTick and Accern. OneTick’s datasets include reference and historical futures data (that can be accessed in our console with your login). Accern’s datasets include alternative data such as market sentiment and credit analysis data (that can be accessed in our console with your login).

To make it more helpful, we partnered with Accern to create a hypothetical scenario to describe the data acquisition and analytics process step-by-step.

Accern use case 

As a sustainability analyst, you require an economic, social and governance (ESG) dataset to determine which sector is the most widely covered ESG sector by analysts, and to also identify the sector with the lowest ESG sentiment score. Now, you can discover and acquire an ESG dataset in Google Cloud.

Step 1. Navigate to the Financial Services solutions page in the Google Cloud console:

Step 2. Click a dataset, for example Accern AI-Generated ESG Insights, then review the overview details, plans and pricing, documentation and support information. To view the available pricing tiers, click ‘View All Plans’. Once you’ve decided on a tier that you would like to subscribe to, click ‘Select’, choose a billing account and review and accept the terms of service to complete the subscription. Once the steps are complete, click ‘Subscribe’ at the bottom. An overlay window will appear, click ‘Register with Accern’ to activate and complete the subscription.

Step 3. Once activation is complete, you’ll be directed to the Datashare ‘My Products’ screen. Voila! You are now subscribed to Accern’s ESG Scores dataset and can access it in your Google Cloud instance using BigQuery. To access the data, click the hour glass icon on the corresponding ‘My Products’ record that you just purchased. An overlay will present you with the details on the dataset and/or table. Click the ‘Navigate to Table’ button to navigate through to the BigQuery console.

Step 4. Now that you have access and are in the BigQuery console, it’s time to generate data insights.

^{For this example, we’ve eliminated the company identifying information that is included as part of the subscription and aggregated company ESG in a view where each row represents a day, an industry sector, a specific identified ‘ESG Issues’ (event_group and event) and the respective ‘ESG Sentiment’ per issue.}

For example, row 1 indicates that within the ‘Healthcare’ sector, there was a ‘Social – Civil Society’ issue identified and it had a negative ESG sentiment score of -15.35.

Step 5. Generate a report by exporting it to Data Studio to build visualizations and conduct additional analysis on the ESG data.

Select ‘Export’ and ‘Explore with Data Studio’.

Step 6. Build a simple/basic report.

Now that the ESG data appears in Data Studio, you can start by building a simple chart to help you understand which industry sectors have the highest volume of discussions around ESG and the overall ESG Sentiment per industry sector.

To build the chart:

• Select the chart type ‘Table’.

• Include Entity_Sector as your dimension to aggregate results by ‘Industry Sector.’
• Include Signal_ID as a measure to count the number of ESG passages identified per ‘Industry Sector.’
• Include AVG(Event_Sentiment) as a measure to display the overall ESG Sentiment per ‘Industry Sector’ across ESG Issues.

You can see sectors that are  most discussed when it comes to ESG related topics and their corresponding ‘ESG Sentiment’ scores.

Step 7. Build your final report in Data Studio.

As a next step you can further drill into the data to understand ESG data specific to each ‘Industry Sector’ and identify positive and negative ESG practices. 

Accern has built a more complex sample dashboard and made it available publicly here. You can interact with this report and play around with the data. The dashboard can help to identify material ESG insights for each sector to inform your investment and risk processes. If you have additional questions, you can reach out to Accern directly.

Discovering, accessing and analyzing licensed datasets is quick and easy. Stay tuned for more updates on new licensed datasets.

Publishing your data via Datashare

If you are a publisher of market data, alternative, or exotic data, you can use Datashare to get it published on Google Cloud Marketplace.

Start by joining the Partner Advantage program by registering for the Partner Advantage Portal and applying for the Partner Advantage Build Model engagement. Visit our getting started guide for information to get started on publishing licensed datasets in the Marketplace. Stay tuned for a future blog post about using Datashare to publish datasets in the Marketplace.

More solutions for capital markets

Check out other Google Cloud solutions for capital markets.

There is a data explosion challenge that most IT admins and companies are tackling regularly. The cost-effectiveness, durability and scalability make object storage the first choice for unstructured data. Cloud Storage is an object storage service capable of storing data at exabyte scale and easily managing billions, if not trillions, of objects. However, cost optimization for data stored in object storage is a hard problem.

Choosing the right storage class for your data requires you to know about the access patterns for this data. However, if the access patterns are unknown or unpredictable, it’s often difficult for customers to choose the right storage class for their data. Data placement can have a significant impact on cost as the storage price for the archive class is 6% the storage price for the standard storage class. Having frequently accessed data in colder storage classes can lead to unexpected operations charges. Having data that is never accessed in standard storage can lead to large at-rest storage bills.
As IT administrators and organizations enable different applications and workloads to start leveraging object storage at massive scale, optimizing for cost is only getting exponentially harder to solve. As they migrate workloads to cloud they would like to have predictability and control in their overall storage spend. Wouldn’t it be great if there was a way to automatically place your data in the best storage class?

Introducing Autoclass – a new managed data placement service for Cloud Storage.

Simplifying Lifecycle Management while Reducing TCO

Autoclass is an easy to use bucket-level setting that simplifies and automates lifecycle management of all your Cloud Storage data based on last access time.

This is very useful for workloads with unpredictable and unknown access patterns. It automatically moves data that is not accessed to colder storage classes to reduce at-rest storage cost. When cold data is accessed, it is automatically promoted to Standard storage class to optimize the operations costs for future accesses.

Autoclass automatically delivers cost savings and removes inefficiencies by moving data to the storage class with the most favorable pricing for customer workloads.
It helps organizations achieve price predictability by removing surcharges associated with colder storage classes – there are no early deletion fees, retrieval fees or operations charges for class transitions when Autoclass is enabled on a bucket.

What are customers saying about Autoclass?

“Redivis is a data platform for academic research. We connect data managers with researchers to discover, understand, and analyze Petabytes of data. With Cloud Storage Autoclass, this shifts the paradigm in the research community,” said Ian Matthews, co-founder and CEO of Redivis Inc. “We can now keep more data for longer periods of time while reducing our costs. In fact, I’d estimate 90% of our data will benefit from Autoclass.”

Ian adds “Not only would it cost valuable engineering resources to build cost-optimization ourselves, but it would open us up to potentially costly mistakes in which we incur retrieval charges for prematurely archived data. Autoclass helps us reduce storage costs and achieve price predictability in a simple and automated way.”

Using Autoclass

With this release, Autoclass can be enabled when you create a new Cloud Storage bucket by using CLI, API, or Cloud Console. Once enabled on a bucket, Autoclass will manage the lifecycle of all objects that are uploaded to the bucket until disabled.

If you choose to disable Autoclass, all the objects in the bucket will remain in their current storage class. This disablement doesn’t require any data movement or any changes to storage classes of objects and hence, incurs no charge.

The support for enabling Autoclass on existing Cloud Storage buckets will be available in an upcoming release in 2023.

All transitions carried out by Autoclass can be observed using Cloud Monitoring dashboards. This provides easy observability and allows you to validate what Autoclass is doing for your data in an automated way. These dashboards can leverage 2 new Cloud metrics published for Autoclass:

• Number of objects transitioned by Autoclass (autoclass/transition_operation_count)
• Number of bytes transitioned between classes by Autoclass (autoclass/transitioned_bytes_count)

Getting Started

All Cloud Storage customers can enable Autoclass on their new buckets and realize the cost savings for themselves. For more information and detailed instructions on how to enable Autoclass, refer to the documentation here.