In the past few months, we have had the wonderful opportunity to work with Data3Sixty, a technology company that focuses on active data governance. As we have been making the rounds at similar conferences, groups, and other events in the beautiful Boston area, it seemed obvious to continue the conversation and really understand how we can work together. We identified the opportunity to collaborate from a technology perspective and to capitalize on the mutual momentum in the marketplace around data quality and data governance.
Two questions are currently plaguing the data industry: is the data good? and who owns and has access to the data? When considering these questions in every environment, it comes down to determining if all the data is accurate and if anyone has altered it. Ideally, an organization has good data and can easily pull information on access, permissions, and activity. Seemingly simple, right? In truth, this is difficult to accomplish and without the proper tools or knowledge, individuals tasked with answering these questions often must lay their own credibility on the line to confidently attest to the quality of their organization’s data.
The partnership between Experian Data Quality and Data3Sixty addresses this concern in a two prong strategy. Experian Pandora satisfies the need for enterprise-wide data quality, making the data fit for purpose across all the different environments. Data3Sixty can then digest the metadata from Experian Pandora and report on the data lineage of the problem. The natural synergy between the two products made the partnership a no brainer for a strong customer offering for customers challenged with both data quality and the governance.
To launch our partnership, we recently held a webinar that highlighted the mutual need for data quality, data governance and data lineage when evaluating the operational risk with a company. Mark Spanos, Director at Accenture, discussed how each aspect affects organizations and shared his specialized knowledge of how data quality and governance affects the investment management space. “We have seen a shift from data quality being often IT-led to business-led, where data quality is no longer viewed as an IT problem; firms are recognizing that it is the functional business requirement - the ultimate driver is high quality data.”
We appreciate Mark’s insight and believe it matches what we are hearing in the market. Businesses are understanding the value of data within their organization and the need to have a clear understanding the quality of the data and who has been working with the data and has access to it. As cited in the white paper, Experian Data Quality’s 2016 Global Data Management Benchmark Report, 83% of organizations say poor data quality hurts their business initiatives and only 2% of businesses have complete trust in their data. Therefore, we can determine that data quality is weighing on all organizations and the products that both Data3Sixty and Experian Data Quality offer can solve these problems.
Please join us in listening to a replay of the webinar featuring Experian Data Quality, Data3Sixty, and Accenture.