Tag Archives: incomplete data

Why MDM and Data Quality is Such a Big Deal for Big Data

Big Data is the confluence of three major technology trends hitting the industry right now: Big Transaction Data (describing the enormous growing volumes of transactional data within the enterprise), Big Interaction Data (describing new types of data such as Social Media data that are impacting the enterprise), and Big Data Processing (describing new ways of processing data such as Hadoop). If you can imagine companies having problems with business-critical master data such as customers, products, accounts, and locations at current data volumes, now that problem is compounded many-fold with the growth into Big Data. That’s where MDM and Data Quality come in as the fundamental solutions. So, why is MDM and Data Quality such a big deal for Big Data? (more…)

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Posted in Big Data, Customer Acquisition & Retention, Data Aggregation, Data Governance, Data Integration, Data Quality, Enterprise Data Management, Identity Resolution, Informatica 9.1, Informatica Events, Master Data Management, Profiling, Scorecarding | Tagged , , , , , , , , , , , , , , , , | Leave a comment

MDM – What’s The Cost Of Bad Data In Financial Services?

One of the most critical first steps for financial services firms looking to implement multidomain master data management (MDM) is to quantify the cost savings they could achieve.

Unfortunately, a thorough analysis of potential ROI is also one of the steps least followed (a key culprit being disconnects between business and IT).

This shortcoming is spotlighted in a new Informatica white paper, “Five Steps to Managing Reference Data More Effectively in Investment Banking,” which outlines key questions to ask in sizing up the cost implications of bad data and antiquated systems, such as:

  • How long does it take to introduce a new security to trade?
  • How many settlements need to be fixed manually?
  • How many redundant data feeds does your firm have to manage?
  • How accurate and complete are your end-of-day reports?
  • Do you have the data you need to minimize risk and exposure? (more…)
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Posted in Enterprise Data Management, Financial Services, Governance, Risk and Compliance, Master Data Management, Operational Efficiency | Tagged , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , | Leave a comment