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Building Success

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  1. Building Success Presentation to IRMAC May 27, 2004

  2. Denial, Anger, Acceptance, Resolution…

  3. Business Perils of Ignoring Sound CDM Principles

  4. Simple Input Data Name: Mr. John Smith Sr. Address: 10 Wolfe Crescent N. RR#2 Geography: Bolton ON L7E 5R8 Telephone: (905) 880-1292 Birth Date: 03/14/1963 SIN: 478 827 905 Veritas Singularis™

  5. We know with certainty only when we know little, with knowledge doubt increases. J.W. von Goethe Veritas Singularis™

  6. Multitude of Components Street data House number Street title Primary street type Secondary street type Primary street direction Secondary street direction Additional Street Line Data Route name, number, type Box name, number, type Dwelling1 name, number, type Dwelling2 name, number, type Complex name, type Geographic data Country name Neighbourhood name City name, Postal Code State/province/county name Miscellaneous Personal Data Social Insurance Number Bell/Cellular Number Date of Birth Email Address Name Data Number of names Name form (P, B, R) Prefix: title First Name Middle Name 1, 2, 3 Last Name Suffix: secondary title Generation: Jr., Sr., III, etc. Gender: M, F, N Connector: and, or, etc. Relationship: Executor, Beneficiary Candidate Codes: for each name Veritas Singularis™

  7. Average Customers • 1. One Household • 2. Two Customers • 3. Three Legal Entities • John Single • Jane Single • John/Jane Joint • 4. Three Accounts John Smith 10 Wolf Cres. Jane Smith 10 Wolf Cres. Chequing $1,000 Chequing $1,000 Savings (j) $1,000 Savings (j) $1,000 Veritas Singularis™

  8. Best Customers = Highly Complex Matching John Smith Individual #1234 Jane Smith Individual #1235 John Smith Jr. Individual #1236 Jack Smith Individual #2345 Single--DDA Single--DDA Single--DDA Single--MMA Single--MMA Single--RSP Single--RSP Single--Gold CC Single--Mutfund Single--MutFund Single--SDB Joint--Mortgage Joint--Mortgage Joint--LOC Joint--LOC Joint--DDA Joint--DDA Joint--Credit Cd Joint--Credit Cd Contributor-RSP RSP--(Spousal) I.T.F.--RESP RESP (I.T.F.) P.A.--DDA DDA (P.A.) P.A.--Savings Savings (P.A.) Veritas Singularis™

  9. Profitability Segmentation Direct Response Cross-Selling Upselling Retention Activation Bundling Service Quality Internet Banking Propensity Models Pricing Fraud Detection Compliance Telemarketing Event Triggers GIS Applications RFM Analysis Product Penetration Business Imperatives Veritas Singularis™

  10. Duplicate Customers? Customer ID: 333 John Smith 10 Wolf Crescent Bolton ON L7E 5P5 Term RSP: $150,000 Mutual Funds: $175,000 Assets: $325,000 Customer ID: 222 John Smith 10 Wolfe Crescent Bolton ON L7E 5P5 Chequing: $1,700 Savings: $2,000 Mortgage: $55,000 LOC: $10,000 Credit Card: $1,200 Assets: $3,700 Liabilities: $66,200 Veritas Singularis™

  11. Consolidate Duplicate Customers Customer ID: 333 John Smith 10 Wolf Crescent Bolton ON L7E 5P5 RSP: $150,000 Mutual Funds: $175,000 Chequing: $1,700 Savings: $2,000 Mortgage: $55,000 LOC: $10,000 Credit Card: $1,200 Assets: $328,700 Liabilities: $66,200 Veritas Singularis™

  12. Marketing Implications Customer ID: 333 John Smith 10 Wolf Crescent Bolton ON L7E 5P5 RSP: $150,000 Mutual Funds: $175,000 Chequing: $1,700 Savings: $25,000 Mortgage: $55,000 LOC: $10,000 Credit Card: $1,200 Assets: $328,700 Liabilities: $66,200 • How is profit score now affected? • What is risk profile now? • What now represents best cross-sell opportunity? • What is now the next best product to upsell? • How should service strategy be tuned? • How does segmentation assignment differ? Veritas Singularis™

  13. Joint Account Treatment John Smith 10 Wolf Cres. Jane Smith 10 Wolf Cres. Chequing $1,000 Chequing $1,000 Savings (j) $1,000 Savings (j) $1,000 Veritas Singularis™

  14. Decision Point: Joint Account Processing • Ownership and balance assignment for marketing metrics: • Double Count Dollar Values for both Owners? • Assign Dollar Value to First Name on the Account? • Split Value 50/50 between Owners of Account? • IS RECONCILIATION IMPORTANT? Veritas Singularis™

  15. Decision Point: Joint Account Processing • Ownership and balance assignment for marketing metrics: • Double Count Assets and Liabilities? • John: $2,000 Jane: $2,000 • Assign Value to First Name on the Account? • John: $2,000 Jane: $1,000 • Split Value 50/50 between Owners of Account? • John: $1,500 Jane: $1,500 Veritas Singularis™

  16. The Players…

  17. “…the data access issue, the query tool issue, the data integrity issue… ...given the universality of these issues, it is strange that entire industries are being organized around the first two issues but the third issue seems to be something that we don’t want to talk about.” Ralph Kimball, DBMS September 1996 Veritas Singularis™

  18. Data Cleansing and Linking Software Veritas Singularis™

  19. Core Software Capabilities • Data Conversion • Data Profiling • Name and Address Parsing • Address Verification and Correction • Data Enrichment • Matching—Household; Individual; Business Veritas Singularis™

  20. Trillium Software System • Trillium Software: Division of Harte-Hanks Inc. • Market Co-Leader • Launched 1994 • Strongest Canadian Presence • Strengths—Parsing; Matching Veritas Singularis™

  21. Firstlogic: IQ Insight & Information Quality Suite • Market Co-Leader • Founded in 1984 (Postal Soft; idCentric) • Privately Held • Limited Canadian Presence • Strengths—Data Profiling; Name Parsing; SERP II verification & correction Veritas Singularis™

  22. Ascential Software: QualityStage • Acquired Vality’s Integrity Software 2002 • Public Company • Diminishing Canadian Presence • Strengths—Data Investigation; Ascential DataStage bundle Veritas Singularis™

  23. Enterprise-Wide CDM Strategy Data Cleansing & Linking Software Callable CIF INV DEP MTG Cards MFD TD SDB LNS LOC Trust Data Cleansing & Linking Software Batch Entity Keys OCV; MCV; BCV HHLD Cards Compliance EDW Profitability Consumer SME Scores/Promotion History Feedback Loop to CIF Veritas Singularis™

  24. Steps to a successful implementation of a customer centric database

  25. Steps to Success • Business Requirements • Best of Breed Software • Data Discovery & Investigation • Functional Specifications using a proven methodology • Iterative Development • Quality Assurance • Ownership of Business Rules Veritas Singularis™

  26. Business Requirements • Face-to-face working sessions • Gather specific requirements without getting into solutions • Business Users may not know or be able to articulate exactly what they want, but they will “know it when (they) see it..” • Provide guidance • Do research beforehand • Use Cases and Diagrams • Comprehensive documentation… for the benefit of the clients supplemented with Use Cases • High level overview of solution • Confirmation and sign-off • To be continued…. Veritas Singularis™

  27. Best-of-Breed Software • Do your research • Knowing the questions to ask • Experience - get an expert • A compilation of issues and points gleaned from vendors and integrators who operate in this space • Proof-of-concept using your own data • Canadian experience • Market leaders with the best software and a deep heritage in this space also offer a proven methodology and “out-of-the-box” rules to fast track your implementation • Don’t just ask “will it..” ask “how..” • References – make sure they are recent • “Poor man can’t afford to buy cheap” Veritas Singularis™

  28. Data Investigation • Its worth it! • Discover the true contents and quality of your data before you start on a full development cycle • Give your developers a hands-on experience with software • Refine the business requirements and provide meaningful project timelines • Full file processing! • You’re now ready to do the Functional Specifications… Veritas Singularis™

  29. Functional Specifications • More than a necessary evil • It is a vital communication vehicle between the Business Analyst and the Developers and Project Managers • Helps the Business Users validate that their requirements have been correctly translated • Supplement with Diagrams, Tables and robust Use Cases • It is the documentation that will survive and be referenced by future users • Must be subject to a rigorous review process that includes analysts, developers, business users and project managers • Can be adapted to an Iterative Development approach Veritas Singularis™

  30. Iterative Development Approach • What is it? • Why is it required if you have comprehensive Functional Specifications? • Why is effective? • When is it not appropriate? • Do you believe? Veritas Singularis™

  31. Quality Assurance • Involve your QA team from the beginning • Involve expert users and analysts from the Business in the testing • Be involved with your QA team • Experience counts – and subject matter experience counts even more • Full file processing! • Predefined Control and Balancing with significant input from the Business Analyst • End to end User Testing • If possible, do multiple cycle runs with real data in parallel Veritas Singularis™

  32. CDMS Top 5 Keys Technical Success Factors in building a Customer Centric Information Database

  33. 1. Parsing Technology • The Parsing technology is the single most important factor in creating cleansed standardized customer data for successfully Address verification and correction and superior Matching • What to look for: • Robust out of the box rules • Significant Canadian content • Flexibility to add and modify rules specific to your data Veritas Singularis™

  34. 2. Addressing Technology • The Name and Address is the cornerstone of a building a linked consolidated database • The Address is entered in a myriad of ways and prone to error • The Address Validation and Correction Technology (in conjunction with the Parsing Technology) will provide significantly superior matching results • What to look for: • Canada Post Certification • Built by Vendor not a third part add-on • Tight integration for a total solution Veritas Singularis™

  35. 3. Multiple Match Passes • Using a single match (typically Name and Address) is insufficient to build a robust linked profile of your customers and household • Leverage all information available to the organization: • Customer/Department/Subsidiary Id’s • Telephone Numbers • Identification Numbers • Payment Methods • Ownership Identifiers • Linked Accounts • What to look for: • Provision for independent multiple matchers • Ready facility to reconcile and consolidate the results of each matcher Veritas Singularis™

  36. 4. Control of Match Scores • Must be able to explain precisely why records are matched • Must be able to control and tune the rules at the token level • Work with a baseline (from vendor) and enhance the rules to meet the needs of your firm • Must have ability to create potential or suspect matches as part of the development cycle • What to look for: • Ability for users to score data elements and build rules • Interface that is easy to add, delete and modify rules • Method to review and evaluate the results of each rule Veritas Singularis™

  37. 5. Key Management • The least understood and most underestimated module • Select convenience over true requirement • Driven by customized organization needs that cannot often be met by a canned approach • Flat File or Database • Multiple inter-dependant hierarchy • Track changes over time • Survivorship rules • Business owners will have difficulty articulating their requirements • Requires professional guidance Veritas Singularis™

  38. Contact Information • Jeff Mehlenbacher • Telephone: 905-880-1212 • Cellular: 416-662-7092 • Email Address: • Dan Bulsara • Telephone: 905-948-0755 • Cellular: 416-738-1357 • Email Address: Veritas Singularis™