U.K. consultants Brewin Consulting has introduced Reference Data Diagnostic, which helps financial institutions understand and tackle data quality issues around reference data. The system offers analysis on why quality of certain data is poor and offers suggestions on how to improved it. At the heart of the system is a reference data rule base that includes client and product information. The system describes data in business terms and uses fuzzy logic and artificial intelligence to match requirements with actual data. RDD’s rule base runs on a diagnostic engine developed by Infoshare Ltd., a U.K. data diagnostics company. Infoshare’s system is being used by Barclays to gain a single view of customers across multiple systems and departments. Brewin has operated a European pilot of the RDD system, and launched officially May 24.
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