Teradata's project for open government financial data analysis becomes the audience choice at a tender announced by the Ministry of Finance of the Russian Federation
The Teradata Russia Government Team has been awarded the People's Choice Prize for the 'Best Analytics Application' in the National Open Government Financial Data Contest for BudgetApps 2016, organized by the Government of the Russian Federation. This year, the jury considered 162 entries made by journalists, developers and designers.
Teradata participated in two categories in the contest - "Best Visualization" using open government financial data and "Best Analytics Application" built on Teradata solution AsterBudget.
Also, as part of the contest, The Russian Federation Ministry of Finance recognized Teradata for 'Best Software/Online Project Using Open Government Data'.
Solutions showcased by Teradata are capable of making the government's financial data more understandable and accessible to ordinary citizens. They also greatly simplify the work of experts thus making the budgeting process more transparent. Special applications discover new logic in open data that are widely used by Russian experts and analysts.
One of the applications presented by Teradata in the contest was Wiki Clouds, which analyzes budgetary investments and inter-budgetary transfers to highlight 'in human terms' the key areas covered by each specific allocation of funds. This enables anyone to see the end destination of where funds are allocated through use of these financial applications. The Wiki Clouds application demonstrated a high degree of target compliance in the funds spent by the Ministry of Education of Russia.
The Governmental Procurement Constellation is another Teradata application that scrutinizes relationships between companies for signs of affiliation by processing of information about their CEOs, addresses and other publically available data. The resulting chart can also show all customers these companies do business with. In this way, both natural monopolies and those bidders who win tenders more often than others are quickly recognized. This shortens the list of bidders and customers to be checked for possible violations thus simplifying the work of social control bodies and supervising authorities.
The solutions presented by Teradata were recognized not only for being the audience choice but also for their interesting approach to further improving the analytic tools being used by the government.
The First Deputy Finance Minister Tatyana Nesterenko presented the Teradata team with a certificate of honor in recognition of their achievements and the contest jury unanimously praised all the winners as being the "best of the best".
Organizers of the Budget Apps Contest promote the use of open government financial data, improvement of financial literacy, as well as increased transparency and accessibility of financial data.
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