Articles

Sagence is a firm for the intellectually curious. Below are a collection of articles to help you stay informed on industry trends and developments.

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4 Ways NLP Accelerates Contract Data Extraction

Accurate and targeted extraction of data from completed contracts is one of the main aims of any Contract Lifecycle Management platform. Unfortunately many current solutions, including Optical Character Recognition (OCR) and manual input screens require complex initial configuration as well as many resources devoted to data entry, review and/or correction. Natural Language Processing (NLP) is a technique…

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The “New” Enterprise Data Architecture

Having an Enterprise Data Architecture that supplies sets of data quickly and securely to analysts is the key to unlocking insights for the Enterprise. Download our POV below. On May 14, 2009, the European Space Agency launched the Planck spacecraft. Its mission was to map cosmic microwave radiation background. This map demonstrated how each minuscule…

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3 Tips: Spend More Time Analyzing, Not Organizing, Data

Companies spend 80% of their time preparing data for analysis. Let’s explore how Sagence helped a large pharmacy healthcare provider significantly reduce data preparation time, enabling the company to spend more time on data analysis and ultimately realize returns on its data investments. One of our clients, a large pharmacy healthcare provider with integrated offerings across…

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Applying Natural Language Processing (NLP) towards unstructured data extraction

In our previous blog, “Fitting a square peg in a round hole – managing unstructured data,” we pointed out the need for a more non-traditional way of managing unstructured data (mainly, text-based data). In this blog, we are going to look at Natural Language Processing (NLP) as a viable “non-traditional” technique on handling large volumes…

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Set Your Data Free in Three Easy Steps

Over the past decade, the amount of data available within organizations has grown exponentially. When acted upon strategically, this data has great potential value. It contains a wealth of information that can improve the knowledge capital within an organization, improve operational efficiencies, and provide insight into new business possibilities. To realize this value, the following three…

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The Profile of a CDO

Unlike the CIO, whose career progressed through various roles in IT until becoming Vice President or Director, the career path of the CDO is less well-defined. Since the position is relatively new, the prerequisites aren’t clear; in fact, the role itself is not well-defined. So what should companies look for in a CDO? What characteristics…

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The Role of the CDO

The exponential growth in the diversity, quantity and availability of data is complicating the job of managing enterprise data. To manage and create value out of these critical data assets, a new C-level position has been created: the CDO. The primary goal of the CDO is to realize the value of data across the enterprise.…

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Business Analysis & Data Profiling: Can’t Have One Without the Other

Peanut butter and jelly. Vanilla ice cream and apple pie. Love and marriage. Sonny and Cher. What do these have in common? Each individual component is pretty good on its own, yet the combination of both is far superior. The same can be said for business analysis and data profiling. When gathering requirements or troubleshooting…

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Why Have a Chief Data Officer?

Data has evolved from being siloed in specific-purpose applications into distributed databases that share data across applications. Data is a shared resource, but like any other, it must be owned and managed. But by whom? Sagence believes it should be the CDO. Is the role of Chief Data Officer (CDO) necessary? We’ve all heard the…

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Data Analytics Professionals – Taking us from hindsight to foresight

Successful data analytics professionals typically possess deep, practical experience in a number of competencies, ranging from data profiling to leveraging industry-leading tools and technologies to drive value. The past is prologue for the present. However, the present need not be prologue for the future. Not if our Sagence professionals have anything to do with that…

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Discover A Week in the Life of a Data Management Professional

To fully realize data’s potential, it is essential for the data management team to have the right skills and technical know-how. Successful data management professionals typically possess deep, practical experience in a number of data management competencies. Channel and product proliferation, geographic expansion, multiple customer segments, purpose-built IT applications, and company acquisitions collectively impact an organization’s…

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Establishing Rosetta Stones for Your Company’s Historical Data

Far too often, designers of relational data models forget the lesson of the Rosetta Stone. They focus their time and energy on modeling data scenarios that exist right now, forgetting that the dimension of time must always be accounted for in a database. Without this consideration, older data can quickly become a useless and forgotten…

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An Argument for Data Quality

Is the quality of your data costing you millions of dollars in lost revenue or unnecessary exposure? As organizations seek to take advantage and monetize their valuable data assets, the need to avoid common pitfalls of poor data quality decisions becomes more apparent. Too often, an organization will trust that the data governance and controls…

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The Tsunami of Big Data: Data or Algorithm?

Take advantage of the tsunami of Big Data—not by examining more of the same but by leveraging the variety of data not already studied. Data and algorithms are both essential to generating actionable insights that can totally transform an organization’s future. While data provides much of the raw material, algorithms are the intelligence engines that…

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Is It Time for a Chief Data Officer?

Data’s ubiquity both inside and outside the corporation begs the question: Is it time to expand the C-suite to include a Chief Data Officer? Our short answer to that question is “yes” and our long answer is “heck yes.” Historically, Fortune 500 companies have expanded their C-suite in reaction to an increase in the strategic and…

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The ROI From Reference Data Management

Asset managers and other investment management firms recognize the importance of good reference data management. Reference data refers to descriptive information about financial instruments and business partners that trade them. Good reference data management is key to effective risk management and is becoming increasingly important due to regulations such as Alternative Investment Fund Managers Directive…

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Driving Healthcare Value Through Consumer Engagement Analytics

Whether you are a marketing executive at a large national PBM, a product development executive at a leading health insurance company, or state public health official, in the new world of healthcare, you must be able to answer critical questions about your member population unlike ever before.  The rapidly changing healthcare marketplace creates unique opportunities…

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ROI in Data, the Indirect Method

There is much written these days on how to get more value from your data and, most recently, how to achieve attractive return on investment (ROI) in Big Data. Perhaps a better question to ask is, how can data help the other investments you are making across the enterprise to generate measurable business improvements and…

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