NexaInsight | Use Case for Goal

Use Case By Goal

Overview

Are your data stored in multiple sources? Do you struggle with data quality i.e. incomplete, inaccurate, or inconsistent? Are you struggling to understand the relationship between your data?

Answer

Leverage a single application that enables your organisation to break down data silos and gain a more comprehensive view of customer and market trends, improve your data quality using proven data strategy. This can help business users identify patterns, trends, and insights that can inform decision-making and improve overall service.

Adapting to the dynamic world of compliance

Navigating various regulatory compliance be overwhelming, NexaInsight offers a solution that can help your organisations align with these various regulations, such as GDPR, CCPA, HIPAA, and PCI DSS. According to a survey by Gartner, "By 2023, 65% of the world's population will have its personal information covered under modern privacy regulations, up from 10% in 2020" (Gartner, 2021). This highlights the growing need for data governance applications to help organisations comply with these regulations.

Common Regulatory Compliance Scenario:

Adapting to Changing Regulations

Risk Control and Accountability

Maintaining Privacy and Data Security.

How NexaInsight can help

Align Data Governance with Business Strategy

A data governance application can align data governance with business strategy, ensuring that data governance policies and practices are aligned with the organisation's strategic goals.

Create Data Standards

A data governance application can create data standards, including data definitions, data types, and data quality guidelines. This helps ensure that all data is consistent and reliable, supporting the organisation's data strategy.

Enable Data Classification

A data governance application can enable data classification, enabling the organisation to categorize data based on its sensitivity and criticality. This helps ensure that sensitive data is properly protected, supporting the organisation's data strategy.

Support Data Privacy and Compliance

A data governance application can support data privacy and compliance, enabling the organisation to adhere to regulations and standards related to data privacy and security. This helps ensure that the organisation is properly managing and protecting its data assets, supporting the organisation's data strategy.

Measure and Monitor Data Quality

A data governance application can measure and monitor data quality, enabling the organisation to assess the quality of its data assets and identify areas for improvement. This helps ensure that the organisation's data assets are accurate and reliable, supporting the organisation's data strategy.

Improve data quality

NexaInsight can help organisations improve the quality of their data, which can lead to better decision-making and improved business outcomes. According to a survey by Experian, "Nearly 90% of organisations are challenged by data quality issues, such as incorrect data or incomplete data" (Experian, 2019). A data governance application can help organisations address these challenges by providing consistent rules for data management and improving data accuracy.

Common Data quality scenario:

Data duplication

Inconsistent data

Incomplete data

Data overload

Data downtime

How NexaInsight can help

Clear Data Definitions

A data governance application can provide clear definitions for all data assets, including data elements, data types, and data sources. This helps ensure that everyone in the organisation understands the meaning and context of each piece of data, promoting transparency and consistency across the organisation.

Access Controls

A data governance application can enable access controls that define who can access and use different types of data. This helps ensure that only authorized personnel can access sensitive data, promoting transparency and reducing the risk of data breaches.

Audit Trails

A data governance application can maintain detailed audit trails that track all data access and usage. This helps ensure that all data usage is transparent and accountable, promoting trust and confidence in the organisation's data practices.

Data Lineage

A data governance application can provide data lineage, which is the ability to track the origin, movement, and transformation of data over time. This helps ensure that everyone in the organisation understands the data's journey, promoting transparency and accuracy in data usage.

Data Quality

A data governance application can provide guidelines for data quality, including data validation, data cleansing, and data enrichment. This helps ensure that all data is accurate and reliable, promoting transparency and reducing errors and inconsistencies in data usage.

Maintaining a single source of the truth

NexaInsight can help organisations manage their master data more effectively. According to a survey by Gartner, "Through 2022, 80% of organisations will initiate efforts to enhance MDM capabilities with AI" (Gartner, 2019). This highlights the growing interest in using data governance applications to leverage artificial intelligence and machine learning to improve master data management.

How NexaInsight can help

Centralized Data Management

A data governance application can provide a centralized platform for managing all data assets in the organisation, including structured and unstructured data. This helps ensure that all data is easily accessible and visible to those who need it.

Data Cataloging

A data governance application can create a catalog of all data assets in the organisation, providing a searchable directory of all data assets. This helps ensure that all data is easily discoverable, visible, and accessible to all authorized personnel.

Data Lineage

Data Quality Monitoring

A data governance application can monitor data quality, including data validation, data cleansing, and data enrichment. This helps ensure that all data is accurate and reliable, promoting visibility and reducing errors and inconsistencies in data usage.

Dashboards and Reports

A data governance application can provide dashboards and reports that summarize data assets and their usage. This helps provide visibility into the organisation's data assets and their usage patterns, enabling better decision-making and promoting transparency in data practices.

Securing data and enhanced privacy

NexaInsight can help organisations protect sensitive data from unauthorized access or breaches. According to a survey by Ponemon Institute, "The average cost of a data breach in 2020 was $3.86 million" (Ponemon Institute, 2020). A data governance application can help organisations avoid these costs by implementing clear guidelines for data access, usage, and protection.

How NexaInsight can help:

Audit Trails

Access Controls

Data discovery and cataloging

NexaInsight can help organisations manage their data assets more effectively by providing a central repository for all data assets and metadata. According to a survey by Gartner, "By 2022, 90% of corporate strategies will explicitly mention information as a critical enterprise asset and analytics as an essential competency" (Gartner, 2019). This highlights the growing importance of data cataloging and discovery for organisations looking to leverage their data assets more effectively.