Data curation remains a vexing issue for most organizations. Companies typically unify data from a variety of systems to make decisions, and the records and data within these systems can vary significantly. There may be different names, addresses and phone numbers, all for a single customer. Disparities can occur within the same CRM, ERP, or other system, and are rarely limited to one entity, such as customers or suppliers.
There are several ways to come up with a single, well-defined version of all the data entities in an organizational ecosystem. Regardless of the approach, the ultimate goal is the same: a golden record, or the “single version of the truth”. These records represent the best data available about an entity, and are where users turn when they want to ensure that they have the correct, most complete version of master data for an entity.
We’re excited to introduce Golden Records as a core feature within our platform, Unify, to help enterprises get even more value out of unified data. Here’s how it works. Unify first clusters matching records using a machine learning-based approach that learns from simple examples (i.e., ‘yes / no’ questions). After the data is clustered, business rules can be applied to generate a Golden Record (e.g., “most recent address”). This creates a set of Golden Records which can be referenced across all enterprise applications – from BI and analytic tools to CRMs and ERPs.
Legacy approaches, bottlenecked by the need to refine a set of rules to identify matching records, could take months or years to produce golden records, if they ever get there. Tamr’s more agile, machine learning-based approach enables customers to accurately match records and produce Golden Records in a matter of weeks or days. This allows enterprises to make use of much more of their data, and begin trusting the data fueling business decisions.
Our customers, including GE and Littelfuse, are already taking advantage of our approach to rapidly creating golden records across vast data silos, benefiting a broad range of business stakeholders. Account reps using Salesforce now know the best way to contact their prospects. Finance & accounting can now collect payments faster through accurate billing address information. And most importantly, all data consumers now trust the data they rely on everyday.
What does your data tell you? Tamr gives you a clearer, more accurate picture—far faster. Schedule a demo of our new golden record capabilities today.