FIELD OF THE INVENTION

The present invention is directed to an automated intelligence system and a method for generating financial intelligence data used for making efficient public policies by Government/Organizational bodies and more particularly, a system for generating various financial reports for making financial decisions.

BACKGROUND OF THE INVENTION

Public policies are the tool of any Government to address several public issues by instituting laws, regulations, decisions, or actions relevant to the problem at hand. Various issues may be addressed by Government through these public policies such as poverty, health, sanitation, adequate drinking water facility, proper food supply, crime, education, foreign policy, and other social welfare issues. The development and growth of any country is highly dependent on the efficiency of these policies which results in adequate gross national happiness or social growth in holistic and psychological terms.

Constituting a fair and efficient public policy is very complicated and lengthy process that involves huge human intelligence mainly includes policy makers, surveys, and huge analytical data. Due to such complexities these policies may get defected by the biased views of the policy makers, inadequate analytical data and also often these policies are implemented before testing their outcome with respect to several aspects including current need of the public. Policy making process in developing countries generally faces large amount of political influences which delays the policy formation process, this often makes the analytical data outdated by which a good policy may not generate the expected results. Aftermath of these delays may bring high criticism to policy makers and failure to the policy.
Public policies have very high impact on the life of common people. Understanding the problem of the people which needs to be addressed by the new policy is very important for the policy makers. The need of people depends on various factors such as population of the area, income and expenditure of individuals, aspirations and need of individuals. For this purpose highly qualified team of policy makers are constituted which includes experts of the

particular domain. Generally the actual problem of the people does not get addressed properly due to inefficient ways of performing surveys. However, the experts do analysis based on the data collected and provided to them. Hence the decisions made by these experts are highly depend on the legitimacy of the data and illegitimate data leads to an undesired/ineffective policy.
Ineffective public policies hamper the growth of many developing countries and is a cause for their below par performance despite of adequate industrial and technology growth.

There is one more major reason behind the failure of certain public policies is their implementation without prior forecasting/testing the output in that area. There are certain financial planning systems disclosed in prior art however they have certain drawbacks for instance:

US 2002/0107698 discloses an apparatus, methods and computer programs for determining estimated impact of proposed legislation. This system facilitates an individual to understand the policy changes, and the impact of the policy change with respect to the financial data of the individual. This system is limited to financial policies for example such as tax amendments.

US 8,099.309 discloses a system and a method which analyses financial data associated with an entity with a first proposed policy and a second proposed policy. The outcome of both policies may be further compared and several comparative reports may be generated. The same financial policy may be compared by using different sets of financial data or different sets of financial data may be compared against a single policy. However, this system is restrained to the analysis of individual entity with the proposed policy and provides an impact of the proposed policy.

However the prior art does not comprise of a mass financial intelligence data which may further be used by the Government and other organizational bodies for making an efficient policy.

Therefore, there is a tremendous need of a system and method capable of providing financial intelligence data which enables formation of Government/organizational policies and is beneficial to society at large instead of individuals.

OBJECT OF THE INVENTION

An object of this invention is to provide an automated intelligence system for generating financial intelligence data for formulation of Government/ Organizational policies.

SUMMARY OF THE INVENTION:

The present invention relates to an automated intelligence system and a method for generating financial intelligence data. The automated intelligence system includes several modules for financial analysis and a platform to input individual's personal information, financial information and other relevant details such as the future financial plans. This system consolidates all data received by input such that it gets converted in to collective data which analyzed and obtained as intelligence data. The intelligence data may further be used by the government/organization for making efficient policies. The financial intelligence data may be generated by implementation of several analyses such as demographic data analysis, financial analysis etc.

BRIEF DESCRIPTION OF FIGURES

For a more complete understanding of the invention, reference is now made to the following description, in conjugation with the accompanying drawings, in which:

Figure 1 represents the system depicting the main components.
Figure 2 represents the personal information tool with its different module.
Figure 3 represents the automated intelligence generator with its different module.
Figure 4 represents the report generating tool with its different module.
Figure 5 represents the policy unit and its different module.
Figure 6: represents financial report generating unit and its various modules.
Figure 7: depicts the method of obtaining financial intelligence data
Figure 8: depicts an illustration of obtaining financial intelligence data from different individuals and performing various financial analyses.

DETAILED DESCRIPTION

The following detailed description of the embodiment(s) is merely exemplary in nature and is in no way intended to limit the invention, its application, or use.
The invention relates to an automated intelligence system which is a computer readable system as shown in Figure 1, comprising a central information server (10) having a storage medium(15) connected through interface links (20) with an input interface device (30). a display unit (40), a personal information tool or house hold unit (50). an automatic intelligence generator (60), policy unit (70), financial report generating unit (80) wherein the input interface device(30) enables user to insert data and information about variable aspects such as their financial data and personal information; the display unit(40) wherein different messages from the server are being displayed, input data entered from the input interface device is displayed and output from the automated intelligence generator is being represented in the form of advice, reports or graphs or their combinations; the personal information tool or household unit (50) enables user to enter their personal information which includes personal information module (51), financial information module (52), privacy module (54), verification module (55) as shown in Figure 2.

The personal information module (51) enables the user to enter their personal information such as, but not limited to their first name, middle name and last name; gender; occupational detail such as job designation; work industry; permanent residence address; current address; date of birth; marital status; details of family members; contact information; plurality of aspiration or financial goals to be achieved and other related information. Aspirations or goals to be achieved by the user may be further classified into future necessities, interests and desires.
The financial information module (52) enables the user to enter financial information such as but not limited to annual income, tixed income source, other income source, expenses expected expenses, policies, liability, assets, equity, personal loan, education loan and other related information.

The privacy module (53) helps to secure the personal information of the individual users. The data entered by the personal users and recorded by automatic intelligence generator may be kept anonymous and only statistical data may be collected, generated and presented by this system without disclosing personal details. Thus this module helps to maintain privacy and confidentiality of the information.

The verification module (54) helps to reasonably assure that information collected from the users is accurate. The verification module may also function to verify the information being entered by the users to establish the authenticity, for example mobile number is authenticated by sending a security code to the mobile number of the user (cellular number verification); e-mail address is verified by sending an e-mail conformation mail to the user; requirement of any unique identification number and/or permanent account number (PAN) card details, and other such details that may be customized.

The automatic intelligence generator (60) comprises different module units shown in Figure 3 as an income analysis module unit (61), an expenditure analysis module unit (62), a surplus analysis module unit (63), an asset analysis module (64), a liability analysis module (65), an industry analysis module unit (66) and a socio-demographic analysis module unit (67).

As depicted in Figure 4. the income analysis module unit (61) collects and also collates personal and income details of the users through personal information tool (50) and performs various statistic analysis and calculations of income profile of plurality of users. Plurality of users may further be characterized by region, occupation, work industry, income profile, surplus income, financial aspirations and other socio-demographic factors. The income analysis module may analyzes several income dependent data of plurality of users such as average industry income, average industry income per region, average industry income per gender, aggregate income, distribution of income geographically and other related data.
The expenditure analysis module unit (62) also collects and collates personal and expenditure details of the users from the personal information tool (50) in similar manner and performs various statistical analysis of expenditure profile of plurality of users. Users may be characterized in the same manner as defined above. The expenditure analysis module may analyze several expenditure dependant data of plurality users such as average expenditure of user per region, average expenditure on perishable and non perishable goods, aggregate expenditure, distribution of expenditure geographically, committed expenses, non-committed expenses and other related data. The committed expenses deal with information relating to utilities, household, education loan, house loan and debts, credit cards and insurance. The non-committed expenses deal with information relating to travel, entertainment and miscellaneous. The surplus analysis unit (63) analyses surplus income of plurality of users in similar manner. The asset analysis module (64) analyses assets of the users such as but not limited to current assets, long-term assets, pre-paid and deferred assets, and intangible assets. The liability analysis module (65) analyses liability of the users such as but not limited to debts, loans, accounts payables, mortgages, deferred revenues and accrued expenses. The industry analysis unit (66) analyses industry trends in terms of but not limited to average income, average employment per industry, average recruitments, average dismissal, recession, and growth rate. The socio-demographic analysis module unit (67) in similar manner analyses various aspects related to socio-economic condition of the users with respect to population, gender, race, age, physical and mental disabilities, mobility, home ownership, employment status, and location.

The policy unit (70) as shown in Figure 5 comprises an automatic policy recommendation module (71). a policy comparison module (72), and an automatic policy designing module (73). The automated policy recommendation module (71) generates automatic recommendations to the policy makers by analysis various financial factors obtained from group of individual against the proposed policy. The policy comparison module (72) helps in comparing two or more policies against the financial intelligence data. The automatic policy designing module (73) may generate policy outlines based on the grey and white areas traced by the financial reports generated by the system.

The financial report generating unit (80) as shown in Figure 6 comprises a complete report module (81). a customized report module (82), and a personalized report module (83).The complete report module (81) generates detailed analysis of various analyzed financial variables obtained by individuals financial data in form of visual representations such as but not limited to graphs, flow charts, pie-charts and bar-graphs. The customized report module (82) helps the government/organization to customize the report as per their requirement. The personalized report module (83) enables the government/organization to personalize report formats in policy specific manner.

In an embodiment as shown in Figure 7, the system relates to the method (90) comprising steps of formation of individual profile (91) by inputting individual personal data, inputting expense details (92), asset details (93), income details (94), and aspirations or goals to be achieved (95); assessing risk (96); performing analysis of various financial variables such as income analysis (98), expenditure analysis (99), surplus analysis (100), and industry analysis (101). Further on each variable may be further characterized on the basis of demographic analysis (102), Socio-economic analysis (103), and geographic analysis (104).

In an embodiment, for illustration (200) as shown in Figure 8, the system obtained the personal and financial data from the individuals such as XYZ (201), UK (202), ABC (203). PQRS (204). The system performs various analyses (205) on these data such as. but not limited to income analysis, expenditure analysis, surplus analysis, socio-demographic analysis, and geographic analysis. The analysis of various financial data will be analyzed to obtain various financial variables such as, but not limited to average industry income, average industry income per region, average industry income per gender, aggregate income, aggregate expenditure, average expenditure on perishable and non perishable goods, distribution of income, expenditure and surplus geographically, aggregate savings and aggregate liabilities.

The method relates to the system, which is a web enabled application or computer readable application, and may be utilized by large organizations/government. The application may be customized to requirements of the government/organizations for obtaining different statistical data which is useful in policy formation. The system seeds data and information of the individuals, which may be stored in the storage medium in orderly manner or in a database and later used for various roles or tasks as needed. The system creates a personalized profile for an individual, which may be stored in the storage medium or database as individual profile. The profile created after the analysis of the data is constantly monitored and updated with recent information from the individual(s). The method provides different services for developing financial intelligence data, by means of collecting and analyzing various personal and financial data of users, in the form of visual representations, reports, graphs and maps. This system provides the financial intelligence data generated by analyzing various financial data of group of individuals such as but not limited to their financial position, aspirations, financial liability, assets, job sustainability, and investment options.

In a preferred embodiment, the system is configured as a policy advisor which enables the policy maker to make efficient policies by utilizing authenticated demographic data in form of visual representation obtained from financial intelligence data generator. This application gathers various financial data from individual users belonging to different geographic region and may divide the data geographically, which ease the policy makers to decide the requirement of policies regionally. This system may also help the policy maker to perform various relational studies between financial data of group of people of particular region and policy implementation. The data may be used for formulation, implementation, monitoring, and impact evaluation of economic and social welfare policies. They data may also help in evaluating the failure or success of already existing public policies. This system provides various analysis modules and report generating module which automatically provides relevant and processed data which may be utilized by policy makers or analyst to make efficient decisions related to socio-economic policy formation and implementation. This system may present the financial intelligence data demographically across the city/state/region/country. This data helps the policy makers in analyzing the variations in levels of living over a period of years in the different socio-economic groups, geographical areas. The effects of the state policies on the income/expenditure distribution of the population may also be assessed.

In a preferred embodiment of the present invention discloses an automated financial intelligence system for generating financial data comprising a means for collection of data from at least one individual; a means for analysis of the data obtained from plurality of individuals; a means for generating a financial intelligence report for an organization based upon the analyzed data; means for generating policy recommendation. In yet another preferred embodiment of the present invention, the system may be used by organization having at least 5 employees for designing organizational policies or by government body for designing public policies. In another embodiment, the system further comprises communication of the financial report to the government/organization or policy makers.

ADVANTAGES:

This system provides a process of collecting and arranging of the financial information of citizens in an orderly fashion and then generating statistical reports which help the government to understand the financial scenario of the citizens and then might help them in formulating policies.

This system helps to generate authenticated personal and financial data, which may be obtained by registered users upon verification without affecting the privacy of the individual user. Therefore a legitimate data set may be generated for policy designing.

This system helps government/organization to fetch the relevant demographic reports to give them a deeper and sound insight financial and helps government to design or evaluate already existing policies.

The present invention helps the government or any organization to take several decisions required before drafting a new policy and also enables to forecast the result of the same.

The system of the present invention may be used by organizations having large number of employees or workers in order to design efficient and fruitful policies which may help to improve the work culture.

The system of the present invention may be used for different policies concurrently.

This system analyses various parameters such as financial conditions at multiple levels such as geographic levels (country, city, town), population wise, economic levels, industry wise, income levels, aspiration wise, spending wise, gender wise and so on.
This system may further be incorporated with an automatic policy recommendation module, policy comparison module, advanced policy development module, relational queries of policies.

It will therefore be readily understood by those persons skilled in the art that the present invention is susceptible of broad utility and application. Many embodiments and adaptations of the present invention other than those herein described, as well as many variations, modifications and equivalent arrangements, will be apparent from or reasonably suggested by the present invention and the foregoing description thereof, without departing from the substance or scope of the present invention.

We claim:

1. An automated intelligence system, comprising:

i. a central information system (30) having a storage medium(15):
ii. an input interface device (30);
iii. a display unit (40);
iv. a personal information tool or house hold unit (50);
v. an automatic intelligence generator (60) unit;
vi. policy unit (70);
vii. financial report generating unit (80);
wherein the central information system (30) is connected with all the other units through interface links (20) and further processes data entered by plurality of users through the input interface device (30).

2. An automated intelligence system as claimed in claim 1, wherein the data entered through input interface device (30) into the central information system (30) is as per the module of personal information tool or house hold unit (50).

3. An automated intelligence system as claimed in claim 1, wherein the display unit displays data from the central information system (30).

4. An automated intelligence system as claimed in claim 1, wherein the personal information tool or house hold unit (50), comprises:

i. a personal information module (51), comprises information pertaining to first name, middle name, last name, gender, job designation, work industry, permanent residence address; current address, date of birth, marital status, family members, contact information, e-mail address, aspiration, financial goals;
ii. a financial information module (52), comprises information pertaining to annual income, fixed income source, other income source, expenses, expected expenses, surplus income, policies, liability, assets, equity, personal loan, education loan;
iii. a privacy (54) module, wherein the identity of each user entering data into the personal information tool or house hold unit (50) is secured ; iv. a verification (54) module, to authenticate the user data.

5. An automated intelligence system as claimed in claim 1. wherein the automatic intelligence generator (60) unit, comprises:

i, a income analysis module (61), wherein analysis or correlation is performed between, income dependent data of the financial information module (52) and socio-demographic dependent data of the personal information module (51) or within the said individual module; ii. an expenditure analysis module (62), wherein analysis or correlation is performed between expenditure dependent data of the financial information module (52) and socio-demographic dependent data of the personal information module (51) or within the said individual module ;
lil/I flfMll/Sh fHD$e ()' wnerem analysis or correlation is performed

5. An automated intelligence system as claimed in claim 1. wherein the automatic intelligence generator (60) unit, comprises:

i. a income analysis module (61), wherein analysis or correlation is performed between, income dependent data of the financial information module (52) and socio-demographic dependent data of the personal information module (51) or within the said individual module;
ii. an expenditure analysis module (62), wherein analysis or correlation is performed between expenditure dependent data of the financial information module (52) and socio-demographic dependent data of the personal information module (51) or within the said individual module ;
iii. a surplus analysis module (63), wherein analysis or correlation is performed between surplus income dependent data of the financial information module (52) and socio-demographic dependent data of the personal information module (51) or within the said individual module;
iv. an asset analysis module (64), wherein analysis or correlation is performed between asset dependent data of the financial information module (52) and socio-demographic dependent data of the personal information module (51) or within the said individual module ; v. a liability analysis module (65), wherein analysis or correlation is performed between liability dependent data of the financial information module (52) and socio-demographic dependent data of the personal information module (51) or within the said individual module;
vi. an industry analysis module (66), wherein analysis or correlation is performed between industry dependent data of the personal information module (51) and income dependent data of the financial information module (52) or within the said module;
vii. a socio-demographic module (67), wherein analysis or correlation is performed between socio-economic dependent data of the personal information module (51) such as but not limited to population, gender, race, age, physical and mental disabilities, mobility, house ownership, employment status, location or within the said module.

6. An automated intelligence system as claimed in claim 1, wherein the policy unit (70), comprises:

i. an automatic policy recommendation module (71). wherein analysis or correlation is performed between financial dependent data of the automatic intelligence generator (60) unit and a proposed policy or within the said module;
ii. a policy comparison module (72) wherein analysis or correlation is performed between two or more policies and financial dependent data of the automatic intelligence generator (60) unit and a proposed policy or within the said module;
iii. an automatic policy designing module (73), wherein analysis or correlation is performed between financial dependent data of the automatic intelligence generator (60) unit; and generates report or within the said module .

7. An automated intelligence system as claimed in claim 1, wherein the financial report generating unit (80), comprises:

i. a complete report module (81), wherein analysis of various report of automatic intelligence generator (60) unit with policy unit (70), is performed ; ii. a customized report module (82), wherein the report of complete report
module (81) is customised as per requirement; iii. a personalised report module (83), wherein the report of complete report
module (81) is personalised as per requirement, and also generates policy reports , as per each module or a combination thereof, for the central information system (30).

8. A method of generating financial intelligence data, comprising the steps of:

i. entering data through input interface device (30); ii. storing data of step i, in a storage medium (15), wherein the a storage medium
(15)is connected to central information server (lO)through interface links (20); iii. retrieving data from storage medium (15) through central information server
(10); iv. sorting of data of step iii, as per personal information tool (50) module: v. analysing the data of step iv, as per automatic intelligence generator (60)module;
vi. generating report, of the analysed data of step v, as per policy unit (70)module or financial report generating unit (80)module or a combination thereof; vii. displaying the report of step vi. through a display unit (40).

9. A method of generating financial intelligence data as claimed in claim 8 wherein

i. the automatic intelligence generator (60) module collects, characterises, analyses statistically and performs calculations on data from the personal information tool or house hold unit (50), as claimed in claim 4, and generates reports for the central information system (30) , as claimed in claim 1, as per the requirement of each of its modules or a combination thereof;
ii. the policy unit (70) collects, characterises, analyses statistically and performs calculations on data from the personal information tool or house hold unit (50) and automatic intelligence generator (60) unit and further generates reports for the central information system (30) as per the requirement of each of its modules or a combination thereof;
iii. the financial report generating unit (80) generates policy reports , as per each module or a combination thereof, for the central information system (30).

10. The method of generating financial intelligence data, as in claim 8, relating to an automated intelligence system, as in claim 1, wherein the system is a web enabled application or computer readable application.