The Cost of Bad Data
Presented: Wednesday, May 31, 2006
Speakers: Frank Block, FinScore SA & David Smith, Insightful
Corporation
Bad data impacts business process and decision quality in a bold way.
Today, it is a major obstacle for financial services companies facing
the challenge of complying with new regulations such as Basel II and SOX.
Our presentation describes a holistic approach to analytical information
quality (IQ) management using statistical data analysis and data mining
techniques, which covers the range from technical data quality to business
information quality from a business process perspective.
This data quality framework enables large organizations to understand
and measure the cost impact of bad data. It also helps designing an IQ
action roadmap that allows continuous enhancement of data quality, cost
reductions, lower operational risks, better leverage of business opportunities,
and enhancement of business decisions quality.
Throughout the presentation we will give numerous practical examples
of information quality and its impact in real life to help illustrate
the matter.
 Frank Block, CEO, FinScore, SA |
Frank is founder and CEO
of FinScore SA, provider of innovative solutions for enhancing decision
quality, optimizing performance of marketing processes and creating
complete Enterprise Reporting Solutions for Wealth Management. His
business experience includes banking, insurances and telecommunications.
He is an experienced CRM, Data Mining, and Data Management practitioner.
He has led several successful strategic projects built on large volumes
of data in complex business environments. His experience includes
setting up customer intelligence groups, implementing large data warehouses
and business intelligence solutions, designing and introducing campaign
management systems, leading information quality task force groups,
developing and applying data mining methodologies in practice. He
has recently contributed a detailed discussion on the Customer Data
Analysis Process to a book by Professor Dr. Reinartz from INSEAD (Paris)
with the title “Customer Relationship Management – A Databased
Approach” (Wiley, June 2005).
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David Smith, Senior Product Manger,
Insightful Corporation
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David Smith joined Insightful's
UK-based team in 1998 as International Product Manager and moved to
the Seattle headquarters in 2000. A long-time S-PLUS user with intimate
knowledge of Insightful's technology, David is responsible for the
design, content and production of Insightful's financial product line.
Before joining Insightful, David was employed as a Research Associate
at Lancaster University in Northern England, working on methods and
S-PLUS based software for longitudinal data analysis. His introduction
to S-PLUS came in 1991 as a consultant with the Commonwealth Scientific
and Industrial Research Organisation (CSIRO) in his hometown of Adelaide,
South Australia. |
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