Experian QAS is releasing its answer to the ‘Big Data’ conundrum – vexing marketers up and down the country – with a new data management platform which processes up to 100 million records an hour and assigns a monetary value on missing data.
The package, dubbed Experian DMP, is designed to bring all a company’s data into a single location and boost its quality by overlaying Experian’s existing information.
The company claims this will also allow a data analyst to put a cost on missing data, such as email addresses, and the platform will return KPIs based on that.
Assigning a financial value to each missing email address, for instance, will give organisations better governance into how data quality can affect their bottom line, Experian maintains.
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 Experian DMP combines data profiling with the ability to discover relationships and uncover inconsistencies across all data. It also enables data prototyping, which allows organisations to set, test, and apply business rules to their data.
Experian QAS managing director Joel Curry explained: “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 DMP offering.”
