Innovative Systems expands scope of data quality assessment service

EDP Weekly's IT Monitor, August 15, 2005

Innovative Systems, Inc., a global provider of data quality and regulatory compliance solutions since 1968, today introduced its newly expanded and enhanced Data Quality Assessment service. Designed for organizations that seek an expert, third-party evaluation of the quality of their information assets, the Data Quality Assessment identifies problem areas in the data and provides recommendations for ensuring ongoing accuracy and integrity based on Innovative's unique expertise derived from implementing thousands of data quality projects over nearly four decades.

Innovative expanded its Data Quality Assessment service in response to growing executive-level focus on data quality and the recognition, especially within the financial services industry, that data accuracy and integrity are critical to compliance with legislative and regulatory mandates such as USA PATRIOT Act, Sarbanes-Oxley, BaseIII and Gramm-Leach-Bliley.

In addition to providing a "report card" that identifies an organization's data quality problems in such key areas as integrity of data formats, accuracy of name and address data, and uniqueness of customer records, Innovative's expanded Data Quality Assessment quantifies the impact of faulty data conditions, with input from subject matter experts at the organization, in terms of costs, customer service, and lost revenue. It establishes a baseline for measuring the success of the organization's ongoing data quality management efforts and compares the organization's data quality to Innovative's proprietary database of industry best practices standards compiled over nearly 40 years of performing thousands of data quality projects worldwide.

The Innovative Data Quality Assessment's rules-based analyses can be customized to an organization's data quality concerns and needs. The entire engagement--from initial assessment overview to final results presentation--typically takes about a week.

For organizations that already have an in-house or licensed data quality system in place, the Data Quality Assessment can provide an objective, third-party audit of the system's performance.

"Data quality is increasingly identified as one of the most vital business intelligence issues across industries," said Anthony Cusano, Innovative's director of client services. "We're pleased to offer organizations an efficient way to evaluate the condition of their critical business data and quantify the impact of faulty data in terms of dollars and cents. Our Data Quality Assessment's full range of benefits--combined with fast, economical implementation--makes it an offering unlike any other on the market."