The Data Challenges in
Data understanding and especially customer information have become a huge challenge with many implications. Large to medium enterprises, multi-national companies and merged companies have fragmented IT, different database software and multiple CRM systems in different locations, subsidiaries, and languages. Most of them have no common data structure or even a common schema between them, and most legacy databases incorporate older technology containing corrupted and inaccurate data. All of which become obstacles when the need to use the data arises (e.g. to identify one client throughout various databases).
Further, Security requirements and Privacy rules (such as GDPR, CCPA) – prevents sharing information between organizations and even between the subsidiaries of the same organization internally. This poses a substantial barrier for comprehensive Risk Assessment, KYC, AML Compliance, or any attempt towards a 360 customer view, whether for Risk/Fraud assessment tasks or for the reinforcement of full marketing and sales (up-sale) potential of a customer and fulfil overall offerings.
Key – Challenges:
Advanced Automatic Technology to Map, Unify and Navigate across Multiple & Multi-dimensional Databases