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Econometrica Celebrates 25 Years of Innovation

Econometrica Celebrates 25 Years of Innovation

by | Aug 3, 2023 | Econometrica Blog

Econometrica's 25th Anniversary

Message From Our President/CEO

“It is hard to believe a quarter century has passed since we founded Econometrica in 1998. Back then, we had simple goals in mind: provide outstanding work for our clients while offering a supportive and friendly workplace where team members could learn and thrive. 

We have evolved over the last 25 years, yet we hold steadfast to those same guiding principles today. Our team has grown to more than 90 employees, representing diversity in culture, age, gender, and expertise. Many of our specialists come from posts in the upper echelons of business, government, and science. Through conscientious account of our services, we are able to pass that knowledge on to our clients. 

We strive to connect with one another in meaningful ways, such as mentorship and training opportunities designed to advance our employees’ technical capabilities. Helping everyone succeed and stay passionate about their work is a cornerstone of our company culture. 

Our clients are part of the Econometrica family, too. Regardless of project size or value, we provide them with meticulous research, creative solutions, and strategic recommendations delivered with personalized and attentive service. 

Econometrica is a dynamic business continuously changing and growing to meet the needs of our clients and employees. I am proud of the company we created together, and I am excited to see what we accomplish in the next 25 years.”

Cyrus Baghelai, President/CEO

Unlocking Insights: Data Analytics Experts Driving Actionable Solutions for Clients

Our methodological experts and programmers collaborate with subject matter experts and researchers across Econometrica to successfully perform a variety of analytical projects. Through these collaborations, we offer dozens of professionals with a variety of quantitative and qualitative skill sets, including statisticians, economists, data scientists, biostatisticians, visual analysts, and programmers. Our team specializes in quantitative design and implementation, sampling, developing innovative statistical and econometric models, and translating technical results into clear findings and actionable reporting. Our data analytics team is dedicated to undertaking a collaborative approach to analytics in all our work, and building high-quality and impactful products by combining the complementary expertise of our technical staff, subject matter experts, partners, and clients.

Empowering Health Solutions: Health Group Experts Leading Policy and Research Innovations

Econometrica’s Health Group consists of public and clinical health researchers, analysts, instructional designers, and economists who provide expertise in training, information diffusion, health research, quality measure development, monitoring, evaluation, technical assistance, and data analytics. Econometrica is a two-time Measure and Instrument Development and Support (MIDS) Indefinite Delivery, Indefinite Quantity contract holder from the Centers for Medicare & Medicaid Services (CMS) and a contractor on the Substance Abuse and Mental Health Services Administration Domain V contract vehicle. With healthcare and related industry trends constantly evolving, Econometrica’s experts use a variety of research and evaluation methods to provide innovative approaches for each client. In recent years, our team has developed tailored technical assistance plans for CMS. We have had more than 250,000 provider impacts based on trainings focused on understanding and complying with the IMPACT Act on the Post-Acute Care Training contracts, and we have had three quality measures endorsed by the National Quality Forum under our Programs of All-Inclusive Care for the Elderly contract.

Transforming Communities: Housing and Finance Group’s Expertise in Financial Solutions and Community Development

Key service areas include technical assistance and training, policy and program analysis, statistical surveys and research, market and feasibility analysis, and knowledge management. Our staff and business associates comprise a diverse mix of personnel, including former government employees with decades of experience in housing and community development programs, academic researchers from distinguished universities, and highly skilled housing professionals with hands-on experience in housing management, finance, grants monitoring, and other types of support. We are dedicated to supporting our clients in their diverse missions to expand and improve affordable housing, promote homeownership opportunities, stimulate community transformation, assist with disaster recovery, comply with reporting requirements, and enhance their performance. Since 2011, Econometrica has been providing technical assistance through the U.S. Department of Housing and Urban Development’s (HUD) OneCPD/Community Compass initiative, which has convened a community of technical assistance providers to serve the Office of Public and Indian Housing, Office of Community Planning and Development (CPD), and other HUD programs and customers. Through OneCPD/Community Compass, Econometrica has provided a variety of services, with a focus on housing, community development, economic development, and neighborhood stabilization.

25 Year Anniversary Booklet v5 1 pdf

25 Years of Innovation

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Econometrica’s Data Scientists Use AI to Customize Research

Econometrica’s Data Scientists Use AI to Customize Research

by | Apr 4, 2023 | Econometrica Blog

Data science graphic
As a business management consultant firm, we understand the power of data science to evaluate and inform by collecting and examining information across a multitude of analytical platforms. Modern data science enables our researchers to dig deeper and uncover critical truths in a wide variety of projects for the government and private sectors.
We recently added narrow-based language models of artificial intelligence (AI) to Econometrica’s technical capabilities. AI allows us to bring a fresh perspective and highly customized results to our clients and partners in health, housing, communications, finance, homeland security, maritime and water resources, energy, and grants management.

Two key benefits differentiate narrow-based language AI from its predecessors:
    • Upgraded search capabilities: Our data scientists can search and organize large amounts of data more quickly and efficiently.
    • Highly detailed customization: The AI learns concepts based on words with similar uses, including synonyms, abbreviations, and common misspellings to produce more robust search results.

“Machine learning is newer in the areas we typically work. There are not many people in the world who know how to build narrow-based language models,” says Douglas Schuweiler, a data scientist in Econometrica’s Data Analytics Group. A specialist in behavioral neuroscience, Dr. Schuweiler studied how the brain learns by building artificial neural network models while earning his Ph.D. at Illinois State University.

“Using this newer level of artificial intelligence, we can build a model that is tailored to each client and focused on the data that needs to be analyzed,” says Dr. Schuweiler.

Data Science in Action: Program Evaluation

Recently, Econometrica was tasked by the Federal Emergency Management Agency (FEMA) with evaluating a nationwide grant program for disaster preparedness. In other words, were the projects generating the intended outcomes? We had to determine the effectiveness of 100,000 individual grant projects, but there was a great deal of latitude in the outcomes each project could achieve.

We used narrow-based language AI to analyze the project descriptions written by grant recipients. “It allowed us to form a more precise evaluation by matching the grant programs with their targeted outcomes,” says Dr. Schuweiler.

This summary of the FEMA project is simplified, but completing this task takes a significant time commitment from specialists with high-level expertise. Before comparing grant project descriptions to their intended outcomes, our team had to develop another model to differentiate project descriptions with a high level of detail from project descriptions with a low level of detail. The process took more than 6 months.

Data science is the linchpin in many of Econometrica’s projects. We use data analytics in statistical sampling, machine learning, data scrubbing, economic modeling, and analysis support for audits, regulatory work, improper payments, and predictive analytics. This support includes the following:

    • Development of detailed sampling plans.
    • Advanced statistical analysis of the results.
    • Comprehensive reports that document the methodologies used and certify the statistical validity of the analysis.

One recent data science project earned an Award for Excellence for our Data Analytics Group, based on the real-world impact it created. You can read about it here.

Work With Us, Work for Us

Econometrica specializes in data analytics for the public and private sector. Our team represents the best and brightest in data science, health, grants management, energy, homeland security, housing and community development, capital markets and finance, and transportation. We work as the lead service provider, and also as an outsource partner to other consultancies. For exceptional results on your next project, visit us online and email a member of our executive staff in your preferred specialty. To explore the benefits of working for us, visit our careers page.

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Econometrica Develops CDBG Toolkit for HUD

Econometrica Develops CDBG Toolkit for HUD

by | Aug 22, 2022 | Econometrica Blog

CDBG Income Survey Guidebook Cover

Econometrica has developed a complete toolkit that enables communities to conduct a local income survey that meets the guidelines developed by the U.S. Department of Housing and Urban Development (HUD) for allocating Community Development Block Grant (CDBG) funds. CDBG funds can be used to improve local infrastructure and meet other community needs, and some communities are required to demonstrate that the residents of the service area for CDBG activity meet low- to moderate-income (LMI) requirements. They can use the American Community Survey income data or conduct their own income survey.

The CDBG Income Survey Toolkit includes the following resources and tools:

  1. A 40+ page guidebook that includes detailed, step-by-step instructions for the entire survey process.
  2. Ready-to-use survey instruments for both in-person and mailed surveys, including both English and Spanish versions.
  3. Detailed user guides for each of the survey instrument options.
  4. Outreach materials, such as customizable flyers, letters, and more.
  5. Pre-programmed Excel tools to analyze the data, with easy-to-follow instructions.
  6. Case management documents to track attempts to survey each address.

Econometrica’s staff combined their expertise in Federal housing programs, data analytics, software application programming, and project management to develop the complete toolkit for HUD and communities across the country.

Work With Us, Work for Us

Econometrica specializes in research and management across numerous industries in both the public and private sectors. We are always looking to hire the best and brightest in data science, health, grants management, energy, homeland security, housing and community development, capital markets and finance, and transportation. We work as the lead service provider, and also as a capable outsource partner to other consultancies. To work with us on your next project, visit us online and email a member of our executive staff in your preferred specialty. To explore the benefits of working for us, visit our careers page.

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Econometrica’s Imelda Flores Vazquez Honored

by | Sep 15, 2021 | Econometrica Blog

Lathisms: Latinxs and Hispanics in the Mathematical Sciences has chosen Imelda Flores Vazquez as an 2021 Lathisms honoree. Lathisms was founded in 2016 to showcase the work and contributions of Latinx and Hispanic mathematicians during National Hispanic Heritage Month, which begins September 15. The organization has two goals: “celebrate mathematicians working outside of academia and highlight for future generations of mathematicians the many career possibilities that can be achieved with a mathematics degree.”

Imelda has been a key member of Econometrica’ Data Analytics Group since 2020. She is a mathematician and economist with years of experience leading economic, financial, and statistical analyses in the private and public sectors. She has led and performed policy and program evaluations, fiscal estimation of proposed legislation, budget forecasting, predictive analyses for program design, analyses on geographical disparities in health outcomes and health resources, and fraud detection for transparency programs. In particular, she is a subject matter expert on Medicaid data analysis and its State operations, the Accountable Care Organization model, the Oncology Care Model, and other alternative payment methods.

A profile about Imelda can be found in the September 2021 issue of Notices of the American Mathematical Society.

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Imelda Flores
Imelda Flores Vazquez – Senior Economist at Econometrica, Inc.

Econometrica Maintains Continued Operations During Coronavirus Pandemic

Econometrica Maintains Continued Operations During Coronavirus Pandemic

by | Mar 17, 2020 | 2020, Health Projects

COVID 1BETHESDA, MD – On March 13, President Trump declared a national emergency in response to the outbreak of coronavirus (COVID-19) nationwide. Econometrica, Inc., continues to monitor developments related to the coronavirus pandemic to ensure the safety of our staff, their families, and communities. We also are taking steps toward meeting our commitments to clients and partners and continue to provide the high-quality and timely services expected from Econometrica.

The following summarizes steps we have taken to date:

  • Econometrica has mandated that all employees work full time from home for the foreseeable future. We are complying with guidelines from the Centers for Disease Control and Prevention (CDC) to halt gatherings of more than 50 people and to encourage social distancing.
  • Employees working remotely have full access, using secure configurations, to Econometrica’s network resources, applications, and support, including communication tools to support telework. No project work will be interrupted by this move to a remote setup.
  • Project teams in our Health, Housing and Community Development, General Services, Capital Markets, and Data Analytics groups are moving toward scheduling all meetings virtually and limiting travel. All business travel is temporarily suspended during this time.
  • Staff members who work onsite at our clients’ offices continue to report to their respective agencies unless directed otherwise. We have been in contact with each client to develop contingency plans to address remote work should access to the client site is limited or an employee shows symptoms of COVID-19.
  • We have regularly communicated prevention strategies and tips from CDC and the American Red Cross for keeping homes and workplaces safe. Everyone has been advised to call their doctors and follow CDC recommendations for self-quarantine should they show any symptoms related to COVID-19.

Coronavirus infections increase at an exponential rate, with symptoms including fever, cough, and shortness of breath. Social distancing seems to be effective in reducing the spread, and Econometrica wants its employees to feel safe and remain healthy. As this outbreak unfolds, Econometrica will continue to provide its high-quality services with no reduction in availability or commitment.

About Econometrica:

Founded in 1998, Econometrica is a research and management organization in Bethesda, MD, established to provide public- and private-sector clients with customized program support services. Econometrica works with multiple agencies to provide high-quality, cost-effective analyses, modeling, and economic evaluations. The company consistently receives exceptional scores from its clients and believes in three principles: technical capabilities, happy customers, and business development.

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Coronavirus infections increase at an exponential rate, with symptoms including fever, cough, and shortness of breath. Social distancing seems to be effective in reducing the spread, and Econometrica wants its employees to feel safe and remain healthy.

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Jonathan Fusfield

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Econometrica partners with the Preventive Cardiovascular Nurses Association (PCNA) in developing and deploying a Health Equity Self-Assessment Tool that will help healthcare providers identify areas of improvement in their own practice regarding health equity and refer them to pertinent resources. To launch this initiative, the PCNA and Econometrica team hosted a focus group with cardiovascular healthcare professionals to better understand their needs, barriers, and areas of improvements related to health equity.