Powerful Golden-Record-as-a-Service Offering Eliminates the Need for Costly IT Resources Resulting in 5X Faster Deployment at 80% Cost Savings Over Legacy Solutions
Naveego, an emerging leader of cloud-first distributed data accuracy solutions, introduced the next generation of its Complete Data Accuracy Platform, now with self-service Master Data Management (MDM) and Golden-Record-as-a-Service (GRaaS) for non-technical business users. This powerful offering enables users to acquire the data they need for advanced analytics without having to rely on the IT department or professional services. GRaaS ensures that enterprises have a single version of the truth to leverage the power of their data for analytics and reporting immediately upon deployment. The result is an 80 percent reduction in cost and implementation that is five times faster than legacy solutions.
The next generation platform includes an advanced, patent-pending security measure that performs merging and checks consistency without decrypting data or even having platform access to the encryption key. It requires no customization or infrastructure change to adopt, and has a low total cost of ownership (TCO) since it is a complete solution that removes the need for highly skilled individuals to implement and maintain.
As data expands exponentially due to the rise of artificial intelligence (AI), machine learning (ML), 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. According to Gartner the annual average cost to organizations is $15 million for maintaining bad data. 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 per year 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.
The Naveego Complete Data Accuracy Platform is a hybrid and multi-cloud, distributed data accuracy solution that proactively manages, detects and eliminates customer data accuracy issues across all enterprise data sources to ensure a single golden record and make data consistent across the enterprise. It prevents data lakes from becoming data swamps by leveraging Kubernetes, Apache Kafka and Apache Spark technologies to enable rapid deploy, distributed processing and seamless integration with data no matter where it lives, and it fully supports on-premise, hybrid and multi-cloud environments. Naveego provides data accuracy at high volume with real-time streaming from any data source in any environment regardless of its schema or structure.
“Companies across all industries are reimagining themselves within a digitally transformed future. Central to that future is leveraging a data tsunami resulting from newly connected consumers, products and processes,” said Michael Ger, General Manager, Automotive and Manufacturing Solutions, Cloudera. “Within this context, data quality has taken on a critical new importance. The Naveego data accuracy platform is critical for enabling traditional approaches to business intelligence as well as modern-day big data analytics. The reason for this is clear – actionable insights start with clean data, and that’s exactly what the Naveego platform delivers.”
New features of Naveego’s Next Generation Data Accuracy Platform Include:
- Self-service: With an easy, intuitive user interface, the Naveego platform enables all business users to access trusted data without having to rely on IT to deliver the results they need. Users can work with the platform without even understanding what a database is or the application where information resides.
- Golden-Record-as-a-Service: Makes the golden record available to all applications, whether it’s CRM or the accounting system for the business user, or the data lake/data warehouse for the data analyst or scientist, through delivery and synchronization.
- Golden Record Compare: Accurate data is consistent data, gathered and compared from as many sources as possible. The more sources of information within the business – which results in more data being compared – then the more accurate the data becomes. The Naveego platform constantly monitors the data from these source systems to ensure the data is consistent and therefore, accurate.
- Automated profiling of data sources at the edge (machine learning): Naveego’s agent-based profiling capability processes data locally, eliminating the need to move the data. As a result, the platform can profile data sets that would be too large to upload to the cloud, and security is improved since the data is not moved. Naveego can detect sensitive data patterns as well, such as social security numbers, and inform the user before that particular data is moved from the secured network.
- Automated profiling of any data source including IoT: Users can instantly profile data from files, databases, APIs and more using Naveego’s built-in plugins and connectors.
- Automated data quality checks driven by machine learning: The platform automatically detects data quality issues, suggests quality checks to the business, and monitors the data to ensure it stays clean. It can also cleanse data as it is read from the data source and then send the clean data back, resulting in a rapid, automated data cleansing process.
“The ability to achieve golden record data has typically been available only by hiring a systems integrator or other specialist, at a high cost and TCO to the enterprise,” said Katie Horvath, CEO, Naveego. “The next generation of our Data Accuracy Platform is truly a game changer, empowering business users to access trusted data across all data types for analytics purposes, entirely on their own with an easy to use, flow oriented user interface – and at a significantly lower cost. This is sure to disrupt pricey legacy solutions that require vast amounts of professional resources and on average five times longer to deploy.”