DATAcomb is Honeycomb’s unique set of data analytics tools and utilisation.
The upsurge in the volume of data and the systems of storage/management has altered the way that businesses operate, report, control risk and make decisions. It is no longer enough to simply rely on intuition, experience, and old fashioned controls.
The ability to monitor transactions, understand their meaning and relationship, as well as identify challenges to integrity, relies on having the resources to manage data points that often number in the millions. Organisations need to be able to take effective decisions, manage risks and regulate the flow of operations. This is particularly important when analysing vulnerability to risks such as fraud, cybercrime, manipulation or investigating the aftermath of an acute risk event.
We have a wide range of technical and data analytic tools at our disposal to help deal with large volumes of verbal and numerical data in a swift and effective manner. Our combination of technical skills and specialist resources allows us to analyse and interrogate data banks which can involve millions of transactions. We are able to break open almost any type and volume of transactional records to pinpoint ‘at risk’ transactions and those involved in them. We are also highly adept at identifying the transactions which fit into already established instances of fraud or breaches of integrity.
Honeycomb is one of only a handful of service providers outside of the Big Four accountancy firms to provide this service.