Data insight combined with Experian reference data helps organisations better manage data and address everyday business challenges
London 10th January 2013 — Experian, the global information services company, has today launched the Experian Data Management Platform (DMP), a data quality management product that provides organisations with immediate insight to better understand, transform and manage their data all from one central location.
The Experian DMP fills a real gap in the market, combining this insight with the ability to quickly handle large data volumes, giving up-to-date statistics using key reference data unique to Experian – from addresses and emails to phone numbers – in a way that’s not been done before.
With the ability to work with Experian’s data sets, products, software and services, the new platform can help organisations improve data accuracy and quality, better measure the opportunity costs of their data, and move towards a model that positions data as a real strategic asset within the business.
“The importance of data, and data quality specifically, within organisations has changed drastically over the past few years,” commented Joel Curry, Managing Director, Experian QAS. “The emergence of ‘Big Data’ and the mounting pressures facing businesses today – from regulation and compliance to cost efficiency and customer retention – means that organisations are paying more attention to their data quality. The provision of a data quality management platform that helps organisations plug all of their data into one place, then establishes rules against it and pulls in key reference data to help fill in the gaps and enhance the data is a new concept and a key part of our new DMP offering.”
With this in mind, the new platform helps organisations assess and assign a monetary value to data quality issues. This means the data analyst can now put a cost to missing data such as email addresses, and the platform will return KPIs based on that – for example, assigning a financial value to each missing email address to give organisations better governance into how data quality can affect their bottom line.
The Experian DMP combines data profiling with the ability to discover relationships and uncover inconsistencies across all data – for example, discovering matching customer IDs in multiple databases. It also enables data prototyping, which allows organisations to set, test, and apply business rules to their data. This shows any changes being made – such as merging the content of two tables – without impacting the original database. In addition, organisations can assess data quality with re-usable validation rules – for example, highlighting missing data from certain fields, verifying data consistency between different systems or telephone numbers in the wrong format.
As a result, the platform drastically reduces the time and resources associated with data quality and migration projects, and can decrease delivery times on data-dependent projects by as much as 95 per cent* while still providing the highest quality results possible. With the ability to set specific rules, the platform enables organisations to standardise and transform their data, and to find errors or inconsistencies when compared against reference data.
Understanding the everyday challenges businesses face when managing their data, the Experian DMP also enables organisations to:
The new Experian DMP is quick and easy to use – it processes upwards of 100 million records in under an hour’s time and takes migration tasks down from months to a matter of days. It makes it easy to deliver data projects and is very user friendly, requiring no more than three days’ training and enabling organisations to deliver data projects in less than a week, generating quick and accurate results, regardless of the data volumes.
The Experian DMP is available for multiple platforms and configurations. It is easily downloaded and installed. For more information please visit Experian’s website.
* This figure is derived from a data migration project for a large government department where the DMP was used. The implementation was originally projected to take three months and 180 ‘man days’ with three to four people overseeing it. Using Experian’s DMP, the project was delivered by one person in a total of five days.
- ENDS -
Experian is the leading global information services company, providing data and analytical tools to clients around the world. The Group helps businesses to manage credit risk, prevent fraud, target marketing offers and automate decision making. Experian also helps individuals to check their credit report and credit score, and protect against identity theft.
Experian plc is listed on the London Stock Exchange (EXPN) and is a constituent of the FTSE 100 index. Total revenue for the year ended 31 March 2012 was US$4.5 billion. Experian employs approximately 17,000 people in 44 countries and has its corporate headquarters in Dublin, Ireland, with operational headquarters in Nottingham, UK; California, US; and São Paulo, Brazil.
For more information, visit http://www.experianplc.com.
About Experian Marketing Services
Experian Marketing Services delivers best-in-breed customer data and insight, digital-marketing technologies and data management services into multiple regions around the globe. By helping marketers more effectively target and engage their best customers with meaningful communications across both traditional and digital media, Experian Marketing Services enables organisations to encourage brand advocacy while creating measurable return on marketing investment.
For more information, visit http://www.experian.co.uk/business-services/marketing-services.html
Experian and the marks used herein are service marks or registered trademarks of Experian Information Solutions, Inc. Other product and company names mentioned herein may be the trademarks of their respective owners.