Holding more than one version of data about business entities is not uncommon. It is a widespread problem across companies and it simply reflects on the poor governance, processes and technologies put in place by the organizations in maintaining a single version of the truth. To ensure alignment across all versions of data, there has to be concerted effort across people, processes and technology. Coming across a customer name multiple times in the same system or across systems within customer organizations is a challenge that many organizations continue to deal with and pay for with lost opportunities, poor customer satisfaction, wasted time and effort and low morale of teams consuming such data.
At Bydek, we have worked through the nuances of poor master data management caused due to lack of semantic consistency, poor governance controls and ineffective technologies to create a powerful algorithm for automatically winnowing out unwanted data. The gold standard of data that is created by the application of powerful customized algorithms for specific business cases has helped Bydek's customers see significant improvement in overall quality and accuracy of the master data, which is so critical for analyses and reporting.
Contact us to learn more on how Bydek can help with ushering in a new era of Master Data Management in your business.