Model Reviews
Gain confidence in the reliability and applicability of decision-support models.
Decision-support models play an increasingly important role within organizations. They support decisions related to planning, capacity, investments, risks, customer behavior, and operational processes.
But how do you know whether a model still does what it is supposed to do?
Many organizations use models that were developed years ago, built by other teams, or have since become part of critical business processes. In these situations, an independent assessment can provide valuable assurance.
With a Model Review, we help organizations assess the quality, reliability, and applicability of their models.
Why conduct a Model Review?
As models become more important to decision-making, their reliability becomes increasingly critical.
Changing circumstances, new data sources, changes in processes, or new insights may mean that assumptions are no longer valid or that a model no longer reflects operational reality as well as it should.
A Model Review helps identify risks, increase confidence, and uncover opportunities for improvement.
What do we assess?
Do you have a question for Lieneke?
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Model purpose and scope
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Assumptions and underlying principles
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Data sources
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Model structure and logic
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Performance and reliability
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Risks and vulnerabilities
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Use in practice
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Opportunities for improvement and optimization
Do you have a question for Lieneke?
Independent and fact-based
A Model Review is not an audit focused solely on determining whether something is right or wrong.
We combine an independent perspective with years of experience in data science, statistics, optimization, and model development. At the same time, we work closely with the people who use the model in their day-to-day work.
The goal is not only to understand the current situation, but more importantly to identify where risks lie and how the model can be improved further.
When is a Model Review valuable?
A Model Review can be particularly valuable when:
- a model plays an important role in decision-making;
- an external audit or assessment is planned;
- the original developers are no longer involved;
- the model’s operation is insufficiently transparent;
- the model needs to be revalidated;
- there are concerns about its performance or assumptions;
- an organization wants to professionalize its model management.
What does a Model Review deliver?
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Greater confidence
in models and their outcomes
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Lower risk
in important decisions
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Greater insight
into assumptions and vulnerabilities
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Concrete improvements
for further optimization
Model Reviews in practice
Model Reviews are used by organizations where models play an important role in operational and strategic decision-making.
Part of model lifecycle management
A model is never finished.
Models are developed, implemented, used, modified, and reassessed. Periodic reviews help ensure that models remain relevant, reliable, and fit for purpose.
That is why we see Model Reviews as an essential part of the lifecycle management of decision-support models.
Not sure whether your model still does what it is supposed to do?
Or would you like greater assurance for management, auditors, or other stakeholders?
We can help you assess the quality, reliability, and applicability of your models.