Businesses - especially financial and insurance companies - invest a lot of resources in gathering data from a wide variety of sources. They also strategize and implement processes that utilize the collected data for making decisions, calculating risks, and forecasting profits. But 24 percent of insurers say that they are 'not very confident' about the data they use to assess … [Read more...] about What is Data Profiling and How To Use It To Understand Financial Data?
data cleansing
Importance of Data Cleansing: 6 Reasons Why the Quality of Data Matters
Data quality is the foundation of many critical business decisions, processes, and functions. For instance, customer experience, analytics, campaign management, reporting, etc., are only possible with good quality data. Keeping a check on the quality of data is, therefore, an important function for organizations regardless of their sizes. This article highlights 6 significant … [Read more...] about Importance of Data Cleansing: 6 Reasons Why the Quality of Data Matters
How To Merge Purge Large Databases
An average enterprise uses 464 custom applications to digitize its business processes. But when it comes to generating useful insights, the data residing at disparate sources must be combined and merged together. Depending on the number of sources involved and the structure of data stored in these databases, this can be quite a complex task. For this reason, it is imperative … [Read more...] about How To Merge Purge Large Databases
Finding and removing duplicates through software tools
In Datafold's recent survey on The State of Data Quality in 2021, most respondents said that they do not use any tool or software to clean data, and manually perform data quality verification and fixes. Nowadays, process optimization and operational efficiency are impossible without technology. A team that relies on manual effort to execute complicated tasks, such as bulk data … [Read more...] about Finding and removing duplicates through software tools
Avoiding Pitfalls In Your Data Integrity Journey
Data is the language of business. Indeed, for many observers, data is a new type of business, that is commodity, tool, product and so much more. The volume and importance of data grows exponentially with each passing day. Businesses increasingly rely on data to drive their decision-making. McKinsey estimates that data-driven businesses outperform rivals by 2300% in customer … [Read more...] about Avoiding Pitfalls In Your Data Integrity Journey
