Desilo, detangle, deduplicate: A better way to solve a complex data problem.
A comprehensive guide to overcoming your company’s trickiest data record challenges—through contextual Master Data Management.
The Challenge You Face
After decades of data collection, your company’s volume of data will have grown exponentially. But most of this data is collected by multiple applications, which often results in duplicate entries in different (siloed) repositories.
That makes it difficult to get an accurate, timely view of the data your organization relies on to operate—whether for customer service, information management or decision analytics.
And the result?
- Your records are incomplete and may include outdated, inaccurate information
- Your data teams are overloaded with mounting manual remediation tasks
- Revenue opportunities are missed
- Potential risks are overlooked
- Services and products are offered to customers who already have them
- Customers are frustrated at repeating details and information to different customer service agents operating in different data silos
- Customer experience takes a nosedive due to inaccurate, missing or misrepresented information
- An increasing number of regulations require reliable, consistent and well-managed data
- Regulators receive information submissions that are inconsistent and do not tie together
- Inspections demand ever-higher standards for data quality and lineage
- Enforcement actions involve fines and restrictions on business activities, affecting P&L and reputation
The fact is this: most organizations have the data, but not the technology needed to manage master data and harness its value.
Without a way to deduplicate records and accurately chart data, individual entities—like customers, vendors and related parties—can’t be properly understood and analyzed.
To truly make the most of your data, you need to be able to:
- Consolidate and deduplicate it
- Resolve discrepancies
- Have full visibility —in context of related data
Master Data Management allows companies to tackle this issue. But poorly implemented or limited solutions are often ineffective at best and harmful at worst.