Initiate Systems, Inc., announced the introduction of its innovative Initiate Master Data Service version 8.0, which is a comprehensive master data management (MDM) platform that delivers single, trusted and complete versions of critical data assets in real-time to the people, processes and applications that rely on them. Initiate Master Data Service, which is an advancement of the Company's Initiate Identity Hub software, serves as a platform for organisations to apply master data management techniques to the business problems and needs of specific markets, such as healthcare, financial services, retail, hospitality, high tech and national intelligence.
Initiate Systems enables organisations to strategically leverage and share critical data assets. The Company's MDM software and expertise as an information exchange leader provides organisations with one of the most complete, accurate and real-time views of data spread across multiple systems or databases, even outside the firewall.
"Today's explosion of information has yielded huge volumes of data about people, places and things, which are fragmented across disparate systems and diverse operating environments," said Bill Conroy, CEO and president of Initiate Systems, Inc. "Information vital to the success of organisations of all kinds exists in silos scattered across business, healthcare and government 'ecosystems.' Now, exchanging data in a timely, accurate and secure manner is more critical to companies, departments and agencies than who owns the information or where it's stored."
Conroy explained that Initiate Master Data Service delivers trusted versions of critical data assets to users, processes and systems to drive strategic and tactical decision-making. It is designed to provide comprehensive single views of data domains such as, vehicles, locations, incidents, suspects and people to both end users and automated business processes that rely on these views to function efficiently.
"We believe our Initiate Master Data Service will provide customers in the commercial enterprise, healthcare and government arenas with a flexible, scalable and cost-effective way to enhance revenue, lower operational costs, improve compliance, better manage risk, improve strategic decision-making and increase business agility," he added.
Initiate Master Data Service provides identity or data matching and management, data modelling, information quality management, data sharing, relationship and hierarchy management, as well as multi-lingual, integration and synchronisation capabilities. Using the Initiate Master Data Service platform customers and partners can develop their own master data applications for any type of data. Initiate Master Data Service delivers trusted versions of critical data assets, processes and systems to both end users and automated business processes that rely on this data to function efficiently and to drive strategic and tactical decision-making. Organisations can master multiple data domains on the Initiate Master Data Service platform. Examples of data that can be mastered include: Consumers, organisations, patients, providers, vehicles, locations, incidents, suspects and citizens.
In addition, relationships within and between data domains can be identified and managed. This includes the following examples:
- Companies' subsidiaries and branch locations
- Consumers in a household
- Customers' contracts, products and pricing
- Distributors and their customers
- Law enforcement agencies across jurisdictions
- Regional healthcare organisations and hospitals, providers, labs or other healthcare agents
- Health Insurance companies, providers and patients
New and enhanced features of the Initiate Master Data Service platform include:
- Workbench. Workbench supports the installation, configuration and administration of Initiate Master Data Service data hubs and production instances via an easy-to-use graphical user interface. Workbench provides visual data analysis tools that simplify the installation and management of Initiate software products by customers and partners.
- Inspector. Inspector is a web-based, integrated data stewardship and governance application that includes:
- Inspector for Data Resolution enables data stewards to understand and resolve data quality issues using a simple, drag-and-drop interface.
- Inspector for Relationships enables data stewards to view, manage and modify complex master data relationships, including hierarchical relationships using innovative relationship visualisation technology. Inspector for Relationships lets organisations gain insight into these relationships and use them to identify top accounts, determine pricing eligibility, etc.
- Inspector for Data Management lets data stewards manage additions, changes and deletions to master data. Inspector for Data Management enhances Initiates existing support for transactional implementation styles by using the Initiate Master Data Service as the master data source.
Related news articles:
- Initiate Systems' Profile
About Initiate Systems
Initiate Systems, Inc. enables organisations to strategically leverage and share critical data assets. Its Master Data Management (MDM) software and experience as an information exchange leader provide organisations with complete, accurate and real-time views of data spread across multiple systems or databases, even outside the firewall. This allows companies to unlock the value of their data assets for competitive advantages or operational improvements. Initiate Systems operates globally through its subsidiaries, with corporate headquarters in Chicago and offices across the U.S., and Toronto, London and Sydney. For more information, visit www.initiatesystems.com.