How many clients data management

Do You Know How Many Customers You Really Have?

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Without proper customer master data management, it can be difficult to determine the scale and type of client that you have or that you wish to acquire. One of the major problems with tracking customers is trying to determine how to improve poor data quality: without data that is clean and accurate, a company faces communications bottlenecks that can eventually …

marketing to millennials big data

Marketing to Millennials: Big Data’s Impact on the Retail Space

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Millennials can hold the key to the future of any consumer-driven business, with this generation having $1.3 trillion worth of spending power per annum, according to the Boston Consulting Group. Millennials are also the most diverse and digitally-connected group of individuals the world has ever seen, which means your retail company is likely collecting plenty of data from your websites, …

The Identity Matching Process of Entity Resolution Explained

Why and How: The Identity Matching Process of Entity Resolution Explained

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The number one issue concerning data quality today is the existence of multiple sources for the same information. When this problem becomes excessive, your organization begins to collect duplicate data, creating multiple identities for the same entity. If your team is not aware of this systematic issue, you could be hindering your own customer service initiatives as well as any …

How Resolving Customer Entity Data Can Revolutionize Customer Service in the Banking Sector

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Financial institutions have always prioritized long-term relationships with their customers. Taking the time to understand who a client is and what their banking needs are has served as the cornerstone of an outstanding customer service experience for decades. However, these relationships are quickly becoming more complicated. The banking sector has experienced incredible change fueled by technology and the data customers …

data quality management

The Biggest Problem in Data Quality Management Today

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As data-driven companies attempt to create a single view of customer interactions across a wide variety of platforms, many chief data officers are encountering a serious data quality management problem. The three components of master data management (MDM)—entity resolution, entity identity information management, and master data systems of record—must work together to turn individual data points into actionable insights. However, …

Master Data Management Strategy: 3 Essential Components

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Every data point that your company has at its disposal can either be an asset or a liability. When used in a well-planned master data management (MDM) strategy, the records you collect and associate with patients, clients, or customers become actionable metrics that can spur growth. However, if your data is mismanaged at any step of the process, you run …

entity matching tools, record linkage software

What’s Most Important in Entity Matching and Record Linking?

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Entity matching tools are essential for a robust data governance program. This software simplifies your data by linking duplicate entries and drawing your attention to semantically equivalent records—those that are identical if not for a spelling mistake or abbreviation that would otherwise create two entries. Record linking software is particularly useful for managing client, customer, or patient interactions across distinct …

improving data quality, cost of poor data quality

Do You Know How Much Bad Data Quality Is Costing Your Company?

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Just as high-quality data can propel your company to greater financial success, low-quality data can take a significant toll on your bottom line. According to a recent Experian report on data quality, 95% of companies say they use data to improve business operations, while 91% believe that bad contact data results in wasted revenue. When you realize the cost of poor data …

data quality in healthcare

3 Key Issues Compromising Optimal Data Quality in Healthcare

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With an industry that has experienced rapid and dramatic changes to its systems and processes, evaluating data quality in healthcare is more critical than ever before when it comes to improving patient care and reducing costs due to waste and fraud. Rising healthcare costs coupled with the increasing complexity of data systems make the implementation of master data management tools …

Moving Beyond Customer Matching to Business and Product Data

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Here at Black Oak Analytics, we enjoy nothing more than a good discussion on the configurability of our HiPER software, and how it can match data without traditional attributes such as name and address. We enjoy talking about this because so many entity resolution engines and master data management solutions are restricted to matching on traditional attributes. Without name and …