Ravi Hulasi
Ravi Hulasi
Head of Strategic Solutions
April 19, 2024

Mastering Data Accuracy: Achieve a Unified View of Your Business Entities

Mastering Data Accuracy: Achieve a Unified View of Your Business Entities
  • Maintaining accurate data on key business entities is crucial for informed decision-making.
  • Having integrated and accurate data allows for better insights and actions.
  • Modern AI-powered technologies make data mastery achievable for businesses of all sizes.

Maintaining an accurate, up-to-date view of key business entities like customers, suppliers, and partners is crucial for making informed decisions in today's data-driven world. However, businesses often face the challenge of fragmented data landscapes with multiple "versions of the truth" scattered across various systems. This can lead to inefficiencies and missed opportunities.

A Modern Approach to Solving Age-Old Data Challenges

To address these challenges, businesses increasingly turn to advanced solutions like Tamr, which provides a unified view of business entities. Here’s how customers can leverage such technologies to gain a comprehensive and accurate view of their key business entities:

Collect Data Sources:

The first step is to identify the sources you wish to include. Businesses often have data spread across different systems, each capturing a snapshot in time. Some companies have consolidated many data sources into a data lake, but these often remain unconnected and can also be considered silos. By integrating these sources, companies can create a more holistic view of their data. For instance, a company might gather data from customer relationship management (CRM) systems, enterprise resource planning (ERP) software, and external databases to create a comprehensive customer profile

Utilize AI and Machine Learning: Employing artificial intelligence (AI) and machine learning (ML) algorithms can significantly aid in cleaning, matching, and integrating data. Tamr uses these technologies to assemble key information from multiple sources efficiently. This approach helps in identifying and resolving discrepancies, ensuring that the data is not only consolidated but also accurate and reliable.

Create 360-degree Views: Once the data is integrated and cleansed, the next step is to implement systems that provide a 360-degree view of each entity. For example, viewing a customer profile on a platform should provide all essential information—contact details, transaction history, financials, and more—compiled into a comprehensive summary. This ensures that stakeholders have all the relevant data at their fingertips, enabling better decision-making.

Enable Real-Time Updates: In fast-paced business environments, having real-time data is imperative. Systems should be designed to update information as new data comes in, ensuring that the views are always current. This responsiveness allows businesses to react quickly to changes, such as shifts in customer behavior or market conditions.

Provide Hierarchical Views: Understanding relationships within data is crucial. For entities like corporate customers with multiple divisions, a navigable view of the hierarchy can uncover hidden connections and opportunities. This might reveal, for example, which divisions of a customer a business is dealing with and which it isn’t—information that could lead to new business opportunities.

Drive Insights and Actions: Finally, having all this integrated and accurate data is only valuable if it can drive insights and actions. Platforms should allow users to query and analyze the data to uncover trends, predict outcomes, and make strategic decisions. This turns data from a static asset into a dynamic tool for growth and improvement.

Watch how Tamr enables customers to achieve an accurate, up-to-date view of their business entities.

Ready to turn your data chaos into a strategic advantage?

Tamr's AI-powered approach streamlines the process of maintaining accurate and up-to-date data, making data mastery achievable for businesses of all sizes. Take control of your data today, and experience the benefits!

Book a demo.