Naveego: Tackling Bad Data with Golden-Record-as-a-Service

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Katie Horvath, CEO
Today, organizations are facing various challenges, which include ensuring that the entire company is operating off of the same set of facts. Modern business practices typically include adoption of best-of-breed software applications, where different departments and divisions of an enterprise use different software solutions in the regular course of business. The sales team adopts a CRM, marketing uses a website analytics/tracking application, and accounting has billing software. While the solutions are selected because they work best for the various business functions, this decentralized practice creates data fragmentation and silos. A computer system cannot recognize how the same human customer or product is represented in another system. The result is that data fails to stay consistent across an enterprise and different departments or divisions are often operating off of different sets of facts. Duplicate records, records with errors and the general inability for management to view all information assets together for reporting and decision-making create tremendous hidden cost. The hidden costs of managing bad data in operational mistakes and inefficiencies are colossal. Gartner’s recent research on inadequate data quality of enterprises proves it all. According to the research, bad data is costing businesses anywhere between 9.7 million dollars and 14.2 million dollars annually. At a macro level, bad data is estimated to cost firms in the U.S. more than 3 trillion dollars per year. These shocking numbers have induced tremors across businesses of all sizes. Driven by such an imperative, business leaders are seeking for an effective data accuracy management solution provider. And, this is where Naveego takes center stage.

Amid the changing panorama of the big data landscape, Naveego is a leader in cloud-native data accuracy and self-service master data management (MDM) solutions. Unlike legacy solutions that demand vast expertise, time, and money to be implemented and maintained, Naveego’s software can be put to work within hours, resulting in immediate ROI. Naveego’s offering is disruptive because it is built self-service for the non-technical user. “We take MDM out of the backroom of the IT department and place data management into the hands of the data stewards within the business who are best equipped to understand the content of their data,”says Katie Horvath, CEO of Naveego.

The company has made this possible with its cloud-first platform, connecting data sources using API plug-ins. Defining accurate data as consistent data, the cloud service provides Golden-Record-as-a-ServiceTM to create a centralized, golden record of analytics-ready data from many data sources across an entire organization. The data silos, which are usually scattered across departments of an enterprise and multiple business applications are brought together so that a user gets a 360-degree view of all information assets. Naveego provides the golden record back to the data sources using bi-directional sync so that data is accurate where the business needs it for day-to-day operations. Naveego also replicates the golden record to data lakes and warehouses, providing a stream in real-time that is ready to go for analytics and to populate dashboards or other BI applications.


With our data accuracy software platform, we ensure that information across an enterprise is accurate, consistent, and free of errors to ensure long-term global data health


It connects to a new data source in minutes and the golden record is ready on day one of deploying Naveego. “With our data accuracy software platform, we ensure that information across an enterprise is accurate, consistent, and free of errors to ensure long-term global data health,” says Horvath.

Given these advantages, what makes Naveego well worth a double-take is its tenacity to offer the solutions through a SaaS model. “Taking SaaS a step further, we call it ‘Golden-Record-as-a-Service’ because our solution is a service to help enterprises in streamlining their valuable (as gold) data seamlessly,” says Horvath. In addition to data quality and MDM, Naveego also goes the extra mile with their solutions to effectively manage data profiling for their clients to give the user information about the content of the data and the machine learning profiling results are used to automatically suggest data quality checks. Naveego performs profiling out at the edge without transferring any data, which minimizes security risks and exposure.

To get a deeper understanding of their solution, Horvath recalls a case where a reputable healthcare enterprise was struggling to streamline their data that was tangled across several EMR systems. The enterprise turned to Naveego for help to standardize and arrange their appointment data to make sure that patients, providers, and facilities were properly scheduled for each appointment. Connecting the data accuracy platform with the healthcare organization’s EMR systems, Naveego eliminated the errors and data duplications present in appointment record systems, and monitored data health to make sure that data accurately transferred to a new appointment scheduling system during a migration project. Naveego’s efforts earned a warm pat from the healthcare organization as it was able to seamlessly process its appointment scheduling. “Within the first 30 days of the project, we helped them save millions,” states Horvath.

Treading ahead, the company envisions continuing its good work in the data science market where there is a dire need of streamlined data. Dwelling into this opportunity, Naveego’s roadmap entails fortifying its solutions to be the go-to data scientist resource for automatically finding and prepping data for analytics to make sure that training data sets that feed AI and machine learning applications are accurate, to shine abreast the growing data market.

Naveego News

Naveego Expands Global Reach to Asia Pacific Market - Announces Strategic Partnership with Mondelio to Deliver Complete Data Accuracy Solution for Enterprise Customers

TRAVERSE CITY, Mich. & SYDNEY: Naveego, an emerging leader of cloud-first distributed data accuracy solutions, announced that the company has expanded its global reach to the Asia Pacific market with Mondelio becoming the first strategic partner in the region. The joint venture combines the power of the NaveegoTM Complete Data Accuracy Platform with Mondelio’s leading corporate performance management and advanced analytics software and services to enable true digital transformation for customers.

Poor data quality has plagued enterprises for decades costing 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. This problem is compounded by an explosive wave of new data growth 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 Naveego data accuracy platform combined with Mondelio’s corporate performance management and advanced analytics software will empower organizations to proactively transform data into viable, actionable information assets across enterprise systems and harness the power of data for predictive business modeling and analytics. As a result, customers will have the benefits of exceptional data quality without the complexity and high cost of customized installation and the ongoing maintenance of legacy based solutions. By connecting all sources of data into a single view, businesses can proactively achieve global data health in a single repository.

“To achieve true digital transformation, businesses need a data accuracy solution that unifies and manages both traditional and new data sources into a single accurate record for business advantage,” said Katie Horvath, CEO, Naveego. “Our strategic partnership with Mondelio will allow APAC customers to proactively manage, detect and eliminate data accuracy issues across all enterprise data sources in real-time to provide a single, comprehensive view of all information assets to create analytics ready information and ensure global data health.

“Partnering with Naveego is a key step for Mondelio, increasing our capability to provide leading edge solutions for our customers in financial services, energy, mining, and commercial and industrial IOT markets,” said Paul Orfanos, President, Mondelio. “Naveego’s data quality software combined with Mondelio’s technical and business knowledge create a powerful combination, greatly enhancing our service offering in the areas of data quality and advanced business intelligence.”

Company
Naveego

Headquarters
Traverse City, MI

Management
Katie Horvath, CEO

Description
Naveego is a leader in cloud-native data quality and master data management (MDM) solutions. Unlike legacy solutions that demand vast expertise, time, and money, to be implemented and maintained, Naveego’s software platform can be put to work within hours, resulting in immediate ROI. Naveego’s offering is disruptive because it is built self-service for the non-technical user. The company has made this possible with its cloud-first platform, connecting data sources using API plug-ins. The cloud service provides Golden-Record-as-a-ServiceTM to create a centralized, golden record of analytics-ready data from many data sources across an entire organization. The data silos, which are usually scattered across departments of an enterprise and multiple business applications, are brought together so that a user gets a 360-degree view of all information assets

Naveego