Leveraging Freda to achieve high data accuracy and offer valuable customer insights

The Business Need

A lead information provider had been providing timely insights for their customers to make strategic market decisions and outwit their competitors. But, the company had to regularly validate the 10 million records and capture the necessary data to ensure high accuracy, which was time-consuming. A minor data quality glitch could cost the company a potential customer, reputation, and business.

The company needed a powerful and cost-effective data quality platform to regularly refresh and validate the data. Xtract.io offered the data quality platform Freda and their 18+ years of technical expertise and devised a segmented approach to address their challenges while increasing their ROI per record.

Challenges

We had to regularly check ten million records at the attribute level as there was a lot of outdated data in the database. Also, we had to map each data point to its source, validate it and update the data in real-time to increase the confidence score of the data. The main challenge was to do all this at high speed and a lost cost.

How we solved the problem

Addressed the issue at the attribute level rather than the record level to ensure high database accuracy.

Divided the data based on well-known estimates of how much the data has changed and is expected to change.

Freda mapped the data point to its source and scanned the data source for any data changes.

Leveraged AI/ML-based homegrown bots to identify the outdated data and replaced it with the appropriate data.

Any unchanged data was validated and combined with the new data.

Ensured that all data attributes were timestamped, linked back to sources, and provided a confidence score to build trust in their database.

Used our federated yet lean approach to ensure that the customer has access to high-quality data at a minimum cost.

Results

We refreshed their database periodically, ensuring more than 95% accuracy and increased ROI. We assisted our client in gaining access to fully validated and checked two million records in less than 48 hours. The cost to refresh their database also decreased by approximately 40% as Freda reduced the processing time compared to the customer’s previous approach.

Data verification

Data validation

95% accuracy

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