Author: Mastersoft

Data and Analytics set to Reshape Businesses

data analytics new business

Few assets offer the same benefits of capable data and analytics (D&A), the science of analysing data with the aim of uncovering patterns and drawing conclusions about the information. It’s a process that’s growing in importance and will reshape businesses in the near future. Wrestling a hold over data, and implementing a D&A approach will be one of the most important areas for a company to focus on. This piece will look at what D&A means for organisations and why quality data will be one of the highest priorities. What is D&A? The…

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Data enhancement: A necessary undertaking

Data Enhancement

No matter the industry, data has come to play an important role in all aspects of business operations. Companies such as Boeing use data to test engines and tech giants like Microsoft gather thousands of terabytes from large data centres. On a smaller scale, many businesses across the globe depend on access to customer data to form stronger relationships and subsequently pull ahead of competitors. As many will likely guess, the quality of this data is of the utmost importance. For example, how can a company expect to understand a particular market…

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How Big of a Problem is Misconfigured Data?

Data is now everywhere. It’s gathered by countless organisations, consumers provide it to businesses through a multitude of channels and the amount continues to tick upwards. This is for good reason, too, as data that’s relevant to a company can prove extremely valuable. Organisations are able to better understand particular markets and develop new marketing and sales strategies in line with customer expectations. Given the growing importance of this information, many would think that effective data management is a top priority for many businesses. According to new research from Swedish firm BinaryEdge, this…

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Release Harmony Suite version 2.7

Harmony Suite 2.7

We are pleased to announce Harmony Suite version 2.7, which features many new features for address parsing in general and the geocoding of Australian addresses in particular. Here is a summary of the new features available the 2.7.  A detailed overview can be found in the Harmony Suite 2.7 release notes. Introduction of a Pre-Processor Pre-processors are introduced to better prepare input data for the Harmony Parsing service. These Pre-processors, when used in conjunction with semi-structured address mapping and Left to Right Knowledge Base (KB), will significantly increase parsing rates….

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Do You Know Who Your Customers Are?

customer data

Understanding customers is something nearly every business will struggle with, and knowing what they want is critical to the success of an organisation. This is where the proliferation of data poses a real problem, as growing quantities of information gathered by businesses can make it difficult to really identify individual customers. In turn, this means it can be an issue to get an accurate idea of who they are in order to build sustainable relationships. To understand customers and solve this 21st century problem, businesses will have to consider a truly 21st…

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The Time is Now for Data Governance

Data Governance

As with numerous IT trends, many businesses are likely to have initially shied away from Big Data, citing cost and difficulties with implementation as prohibitive factors. However, the proliferation of useful data thanks to customer sharing, sensors and other technology means that it’s now easier than ever for companies to take advantage of these large sets of information. The data is accessible, and businesses just need to ensure that it’s at the right level of quality. This piece will take a closer look at why now is the time for Big Data, and…

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Data Management to Play a Key Role in Digital Future

Australia is currently in a state of transition. An economy that was built on a foundation of traditional industries is now needing to adapt to an era where technology is at the forefront of objectives, and the quality of data and customer expectations are more crucial than ever before. In a recent report titled ‘CSIRO Strategy 2020: Australia’s Innovation Catalyst’, research organisation CSIRO explored what Australia needs to do in order to innovate over the next few years. Data management is going to play an important role throughout this transitory period. “Innovation is rarely…

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Why You Don’t have a Single Customer View

A Single Customer View (SCV) delivers a common view of your customer information across all lines of business. There is an abundance of evidence of the advantages an SCV delivers, and most organisations believe achieving a single customer view is important to their business. Yet surveys in the US and Europe estimate that only between 12% and 25% of organisations have successfully implemented an SCV, and between 25% and 30% are planning to deploy one over the following 12-18 months. The reasons given to explain why organisations have not successfully implemented…

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With Businesses Producing More Data Than Ever Before, Data Management is Key

Data is important. In many cases it’s the lifeblood of modern organisations, regardless of whether they’re small local companies or large multinationals. While management of this information may have been a non-issue in the past, significant growth is starting to change this. In fact, Oracle has found that organisations are now producing more data than ever before, and research from Telsyte has noted that 70 per cent of Australian organisations with 200 employees or more will become data-driven come 2019. Importantly, the Oracle report stated that this data is also becoming fragmented and inconsistent….

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A Closer Look at the Importance of Data Matching

harmony match

When the information of a customer is entered into a computer system, there’s a good chance that the details will differ depending on who actually enters it. For example, the worker who puts the name of a customer or their address into the system will likely change it due to a number of factors. This could be based on how they’ve heard the name or address spelled in the past, or how the customer pronounces it. There’s really no avoiding this, however, and as long as employees are entering data…

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