For Immediate Release
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DataQualityFirst
Untangles Madoff Client List PartyQualityInsight Organizes Master Data Chaos MANSFIELD,
Mass. – April 1, 2009 – DataQualityFirst Inc., an enterprise
software company specializing in party data quality for Customer Data
Integration (CDI) and Master Data Management (MDM), today announced that PartyQualityInsight™
successfully completed a proof-of-concept (POC) using the account list of
Bernard L. Madoff Investment Securities LLC. PartyQualityInsight translated
and organized more than 13,561 account records into coherent, complete customer
information ready for loading to data warehouses, MDM repositories and
enterprise applications such as customer relationship management (CRM) and
enterprise resource planning (ERP). PartyQualityInsight processed the Madoff
list in 11 minutes. A complimentary case study is available at www.DataQualityFirst.com. In the initial baseline analysis, PartyQualityInsight found
23,076 party instances and 13,593 unique parties, including 7,247 people and
6,346 businesses. PartyQualityInsight discovered 5,384 parties who were not
the primary party on any account on the list.
As with any data integration project, these results are subject to
some variation as business rules are modified to ensure the highest level of
data quality. Leveraging IBM® InfoSphere® QualityStage
technology, PartyQualityInsight automatically integrates customer data from
multiple sources, identifies and describes relationships
between party types such as persons or businesses, and automatically
identifies duplicate and incomplete records. The product’s major
differentiators are its ability to discern customer relationships within and
between sources and very rapid deployment. With PartyQualityInsight,
users can re-engineer, measure, analyze and improve party data quality
within days, dramatically accelerating customer
data integration solution deployments and leveraging the investment enterprises
have made in IBM technology. “PartyQualityInsight’s ability to process the Madoff client list
so easily demonstrates how MDM and a powerful data quality tool like
PartyQualityInsight can bring clarity to confusion,” said Dan Power, president and founder of Hub Solution Designs, a management and
technology consulting firm specializing in MDM and data governance. “Whether
helping financial services firms to better know customers and trading
counterparties or helping businesses to better serve their customer base and effectively
acquire new customers, MDM and products like PartyQualityInsight are powerful
tools to unravel data chaos and deliver the Single View of the Customer.” “The Madoff account list was a challenging data set. Registration
labels that specify financial account ownership are notoriously difficult to
interpret because they are rife with multiple parties: owners, trusts,
estates, intermediaries, beneficiaries and others,” said Robert Rich,
president of DataQualityFirst. “In order to improve marketing effectiveness,
increase revenue and mitigate risk, large enterprises need to translate
account data like registration labels into complete and accurate views of
people, businesses and the relationships between them.” The complimentary case study - “What does Bernard Madoff have to
do with Master Data Management?” - is available on the DataQualityFirst web
site at http://tinyurl.com/dgwqbs . |
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About
DataQualityFirst Contact: Chas Kielt Influencer
Relations 617-364-1713 ckielt@msn.com # # # |
Note: DataQualityFirst™, PartyQualityInsight™ and Cure Customer Data Disorder™ are trademarks of DataQualityFirst Inc. IBM®, InfoSphere™, Information Server®, and QualityStage® are trademarks of the International Business Machines Corporation. Other company, product or service names may be trademarks or service marks of others.