3 business experts, 3 use cases on business-ready data
Most businesses, whatever their business model, are concerned with compliance and profit.
The business must comply with the law, regulations and conduct guidelines, and to be sustainable, must remain profitable. Financial stability comes with optimizing internal operations and the value chain while exercising organizational strengths amid changing market forces. To succeed in both areas, data related to the business must be understood, trusted and used.
IBM Unified Governance and Integration solutions help businesses know, trust and use their data effectively. Combining business-ready data with IBM capabilities such as machine learning, artificial intelligence (AI) and AI-enabled platforms helps businesses use that trusted data to inform operations and decision making in a way that delivers responsible and profitable business outcomes.
Once an organization embeds data governing rules, streamlines processes and automates decision-making, it can implement systems that often save money, make money, or reduce risks.
Recently, I was blessed to work with three executives to learn about their information governance journey and how their businesses benefited from making their data business-ready.
The New Jersey court system had identified a bail problem. Too often, people who could not afford their bail were spending time in jail for offenses that were of such minimal consequence, the prosecutor would eventually dismiss the charges entirely. A study revealed 15,000 defendants were in jail for bails set at $2,500, which means the accused could not afford 10 percent, or $250, to get out of state custody. The court system found that persons imprisoned for more than eight hours statistically tended to suffer huge losses in areas including work and housing.
New Jersey court officers found that prosecutors and judges often sought, denied or assigned bail based on subjective information. Court officers sought to collect, automate and score data about arrestees and use those risk assessment results to offer all official personnel a recommendation. The courts streamlined their statutes and arrest records and using IBM MDM and IBM InfoSphere DataStage, culled 40 million parties into 8 million unique identities.
