Naveego Unveils Next Generation Data Quality and Master Data Management Solution
TRAVERSE CITY, Mich., Oct. 3, 2018 — Naveego, an emerging leader of cloud-based Data Quality and Master Data Management (MDM) solutions, has introduced its Complete Data Accuracy Platform 2018.2.0 that empowers organizations to proactively transform data into viable, actionable information assets across enterprise systems. The platform delivers exceptional data quality in a Big Data world, without the gross complexity and high cost of customized installation and ongoing maintenance that go hand-in-hand with legacy solutions. Using API connections, Naveego’s solution agnostically connects with any type of data where the data resides, eliminating the need to make infrastructure changes. As a result, businesses can achieve, on average, an ROI of 800 percent within 60 days of implementation as compared to years, with legacy data management solutions.
As data expands exponentially due to the rise of artificial intelligence, machine learning, the internet of things (IoT), mobile devices, autonomous vehicles, and other sources outside of traditional data centers, the challenge of data cleansing is rapidly becoming more difficult, as well as expensive. In addition to the high price of legacy systems and customization, poor data quality costs the U.S. economy $3.1 trillion a year. At $100 for each incorrect record, a company with only 50,000 incorrect records incurs a cost of $5 million to maintain them.
There is also a cost associated with the undue time that high wage data scientists spend on scrubbing and prepping data. Reports indicate that up to 80 percent of their time is squandered on mundanely collecting and cleansing inaccurate digital data, before it can be explored and used for analysis purposes. This “data janitor work” is their least favored activity, and yet it consumes most of their time when they should be focused on actual data analysis.
Naveego’s Data Accuracy Platform 2018.2.0 provides a 360 degree view of information assets across traditional data such as CRM, ERP and MDM systems, as well as new data from web searches, clickstreams, IoT sensor data, social media, and streaming data. By connecting all sources of data into a single view, businesses can proactively achieve global data health, in one place. Simple to use, it ensures data accuracy, drives consistency across the enterprise, and is accessible for business decision makers. The platform, while extremely affordable, delivers the power of MDM, and real-time validation and monitoring. It also enables (without building) bi-directional sync.
Breitburn Energy Partners LP uses Naveego’s platform to help ensure quality data, streamlined processes, quicker decisions and reduced risk. “Traditional on-premises data quality solutions are expensive to deploy, require teams of specialists and take months before delivering any value to the business,” said Mike Kasprzak, Data Administration Services Manager, Breitburn Energy Partners LP. “Naveego stands apart with a seamless, affordable solution that empowers our analysts with quality data they can utilize immediately to more efficiently do their work. They can focus their skills and expertise on creating value based on reliable data – a huge advantage for both business and compliance reasons.”
The Naveego Complete Data Accuracy Platform 2018.2.0 includes the following new features and capabilities to enable seamless, end-to-end data quality and self-service MDM:
- Big Data Ingestion and Storage: This release positions the platform to handle the massive amounts of data and storage required by Big Data applications. By leveraging Hadoop technologies such as Apache Kafka and Apache Spark, the platform is able to handle high volumes of data from any source, in real-time, regardless of its structure or schema.
- Auto-Provisioning and Self-Service: The platform is fully self-service capable, allowing new partners and customers to add new tenants to the system. While Naveego’s support staff is available to assist, users can perform all operations without customization, and achieve MDM implementation in hours, as compared with other solutions that can require years.
- Data Flow Log: Tracking, logging and normalizing data across distributed systems such as Hadoop is a difficult process, and challenging to support. The platform’s Data Flow Log has been enhanced to track all data over distributed systems with multiple processors, and deliver invaluable end-to-end visibility to users. This patent pending capability, unique to Naveego, identifies duplicate records, cleanses data and performs exact matching, in addition to tracking the lifecycle of all data across time and who or what changed it.
- MDM Scalability: The MDM system has been designed to handle probabilistic matching and merging at a massive scale across distributed environments. Leveraging systems such as Apache Kafka and Apache Spark enables the platform to manage today’s massive new load requirements.
“The race to drive competitive advantage through better use of information assets is leading to demand for efficiency – which means demand for reliable data,” said Katie Horvath, CEO of Naveego. “In order to monetize data and obtain ROI on data collection investment, efficiencies must be achieved to get clean and accurate data that businesses can rely on. This is why demand for Naveego’s Complete Data Accuracy platform is exploding. In the Hadoop world of big data, and the ‘new data’ from sources not managed by traditional master data management installations (such as IoT data), businesses need a solution that brings together and manages both new and traditional data from disparate sources, scrub it, and deliver it ready for consumption analysis and business productivity and profitability.”
Naveego is an emerging leader of cloud-first Data Quality and Master Data Management solutions that enable organizations to ensure their data is accurate, consistent and reliable for driving critical business value. As a trusted provider of data quality and master data management technology since 2012, Naveego sets itself apart with a unique business process and rules-centric approach that analyzes and monitors enterprise data, even while in production. Using four simple steps of Connect, Trust, Optimize and Sync, Naveego’s platform provides a simple, cost-effective solution for managing the ongoing data quality process and integrating all of an organization’s data sets within minutes – not days, weeks or months. Using Naveego, organizations are remastering their business data for a new competitive advantage.