MNC Received 95% Accuracy in Data Consolidation

Deploying cutting-edge tools in the integration process helped achieve this rate.

It is a top-class company associated with the financial sector and now working globally. Eventually, the company started from scratch in developing financial solutions for their customers. With time, the area of operation increased as the company is now covering diverse areas. The company has also gained success in delivering financial solutions online over the last couple of years

Initially, the company created some databases based on the services that it provided to its customers. With time, the number of databases increased and all were left unorganized from the client's end. Therefore, the company has been facing a huge issue in finding old records from databases. Therefore, the company wanted to have a partner who could consolidate all databases efficiently. Eventually, the company found us and we bring wonders to the client's database.

Importance of Data Consolidation for Global Financial Organizations

Data consolidation services play a pivotal role in enhancing the operational efficiency and strategic decision-making capabilities of global financial organizations. Firstly, in the complex landscape of finance, organizations often deal with vast volumes of data generated from various sources and systems across different departments and regions. Hence, data consolidation services enable these organizations to streamline and unify disparate datasets into a centralized repository, eliminating data silos and ensuring data consistency and integrity. By consolidating data from multiple sources, financial organizations can gain a holistic view of their operations, customers, and market dynamics, facilitating comprehensive analysis and informed decision-making.

Moreover, data consolidation services empower global financial organizations to unlock valuable insights and trends hidden within their diverse datasets. By aggregating and standardizing data from disparate sources, organizations can perform advanced analytics, identify patterns, and extract actionable insights. This enables them to optimize risk management strategies, enhance regulatory compliance, and drive business growth initiatives.

Issues Faced by the Company

For the past few years, the company has not taken care of its databases at all. They just dumped all the data into multiple databases based on their preferences. Therefore, the company ended up having 250,000 raw XML files which had no place in the existing database. Besides that, many other challenges the company has been facing regarding their fragmented databases, which are;

The Challenge

AskDataEntry encountered several challenges in the project, primarily related to the management and integration of vast volumes of data across multiple domains. Maintaining comprehensive databases encompassing vital information on products, properties, processes, and industries required meticulous attention to detail.

The methodological approach and development strategy were critical in ensuring the success of the solution. Additionally, the project aimed to cover a vast spectrum of 250,000 companies, each with varying degrees of available information. Addressing concerns such as duplicate records and database accuracy necessitated regular database refreshing and substantial enhancements to the existing taxonomy.

The Project Objectives

The project revolved around the integration of 250,000 raw XML files into existing applications, with strategic objectives aimed at enhancing data quality and increasing product input per company. The transformational goals included elevating the quality level of product data from 30% to 90% and augmenting the average product input per company from 2.5 to 10.

Moreover, the project aimed to validate and update existing company information as needed, leveraging data from company websites. Matching products with customer databases and creating an augmented taxonomy further underscored the project's comprehensive approach toward data integration and enhancement. Through a strategic blend of technology and expertise, AskDataEntry navigated through the project's complexities, ensuring the successful integration and optimization of data resources to meet evolving business needs.

Custom Solutions by AskDataEntry

AskDataEntry swiftly mobilized its expert team comprising domain specialists, qualified engineers, and technical editors to tackle the project's complexities. Leveraging extensive domain knowledge and training in quality norms, our implementation team achieved and maintained a remarkable 90% quality level throughout the project's duration. This strategic deployment of skilled personnel ensured a robust foundation for the project's success, enabling meticulous data processing and integration while adhering to stringent quality standards.

Innovative Solutions and Enhanced Productivity

To streamline processes further, our development team custom-built specialized software tailored to the project's requirements. Moreover, recognizing the need for scalability and productivity enhancement, AskDataEntry invested in the training of 70 newly recruited personnel within a span of 15 days.

This proactive approach to workforce development aimed to optimize project outcomes and ensure sustained success in meeting client objectives. Through a combination of expertise, innovation, and strategic workforce management, AskDataEntry delivered exceptional results, driving efficiency, and value for the customer in achieving their project goals.

Jerome Melone

(Managing Director)

AskDataEntry has done a great job in consolidating segmented databases from our end. We have had our initial discussion only and voila! They have provided the exact work that we wanted. AskDataEntry has not only consolidated our fragmented databases but also improved the database quality. We also get rid of duplicate data because of AskDataEntry's data consolidation services.