Data Assurance Management

Data Assurance Management for Commercial Risk

Your organization may think of risk management as a siloed function, but you know that it is much more than that.  It is embedded in every decision that your organization makes .  And from what has happened to our economy, you know that managing risk is the most important thing that your company does.

How much confidence do you have in your organization’s risk data?   Does your company’s technology enable the best possible decisions?  How do you know?

Malfeasance and market anxiety have put risk and the impact of poor data on the front page. The challenge is inconsistent information on customers and counterparties that is stored in disparate and unconnected databases.

Companies have invested tens of millions of dollars in technology systems that allow them to make very questionable decisions much faster, because those decisions are often based on inaccurate data. 

Companies pull data from multiple sources for a variety of applications.  Operational data, customer data and vendor data is collected from point of sale transactions, call centers, online transactions, surveys and other sources and merged with external data bought from data resellers.   This information is then used for predictive analytics, risk management, marketing and reporting. 

Every bit of data is treated with equal weight and the assumption is that it is complete, accurate and fit for use. 

Maybe it is fit for use.  Maybe it isn’t.  When it’s  not, it can cost your company money and can put it at serious risk with compliance issues.

US companies are audited at least four times each year, ensuring that data is accurate and fit for use has become an every day priority.  That isn’t easy to do when the data is changing as your company undergoes increased government regulation, reorganizations, mergers, acquisitions and expansion into new territories.

Black Oak Partners can help you manage risk decisions by ensuring that you have data you can depend on, even as your business evolves and the market changes.  

We measure the absolute and relative contribution of each data source to every relevant dimension, then test and analyze the results to ensure the highest quality and most cost-efficient sources of data are used.  We will identify sources that are low-value, no-value or duplicate sources of data, and rank order each source relative their fitness for use.  Then, we will use our proprietary solutions to optimize data sources based on coverage, cost and contributed value.

You will manage risk decisions better because you’ll have data you can depend on, even as your business evolves and the market changes. 

And those better risk decisions mean you sleep better.  Much better.  Call or email us and let’s get started.