Gartner says that poor data quality is a primary reason for 40% of business initiatives failing to achieve their targeted benefits. Data quality also affects the overall labour productivity by as much as 20%.
Information management and data integration are expected to have a compound annual growth rate (CAGR) of 10% over the next five years. Master data management will grow between 2010 and 2015 by 19% with aworldwide market size of $3,2-billion by 2015.
InfoBuild, representing Information Builders in SA, is addressing the issue of poor data quality. The company says the new version of the information asset management platform, iWay 7, combines integration, data quality and master data management (MDM) capabilities to provide the most extensive end-to-end data management solution.
“It is critical that organisations maximise their information assets by unifying data from disparate sources, correct integrity issues and create a view of this information available to a range of audiences, ” says Johan Jurd, MD of InfoBuild.
“The platform enables businesses to overcome data silos and obtain direct access to information from any source with more than 300 pre-packaged integration components.”
The software also facilitates the building of a real-time data quality firewall equipped with reporting and monitoring capabilities. iWay 7 comprises three technology suites:
* iWay Integration Suite – enhances information unification and accessibility, providing realtime interoperability between disparate systems and data;
* iWay Data Quality Suite – is a unified solution for profiling, cleansing and enriching data. This provides the tools to confirm consistency, accuracy and completeness of information; and
* Master Data Suite – provides a unified toolset with consistency, uniformity and accuracy across all critical data assets. It is a multi-domain master data management (MDM) environment giving organisations data governance capabilities by creating and maintaining a single view of their core data.