IT Services and Product Innovation specialist firm BodhTree Consulting has announced the availability of MIDAS - a new Multi Industry Data Anomaly Solution to help industry solve data completeness, accuracy and integrity problems which will help save millions of dollars spent on managing unclean data and optimize database utilisation. The solution will be available for customers as SaaS (Software as a Service) or as a Turn-Key Solution. BodhTree expects MIDAS to boost its revenue streams significantly in the coming months.
According to Data Warehousing Institute, U.S. businesses lose more than USD 600bn every year due to poor-quality data.1 Direct marketers in Europe spend GBP 195mn every year on incorrectly addressed international mail.2 Gartner Inc’s research report of Feb 2008 has predicted that ‘dirty data’ will cause 50% of insurers to have compromised decision-making assumptions by 2012. Ted Friedman, Vice-President of Data Management and Integration at Gartner Inc. says - “Companies have discovered that data quality has a significant impact on their most strategic business initiatives.” Source: The ECCMA Newsletter, August 2008, Market Direct Magazine.
Making the announcement Sanjeev Gupta, Director of BodhTree Consulting said with MIDAS, Industries can now make sure their databases and IT infrastructure is relevant, clean and well organized to ensure they are not clogging up corporate efficiencies. At BodhTree, a customer will also receive the finest data centre, staffing levels support, both on data processing and account management inexpensively.”
Sanjeev explained that one of the key drivers behind the development of MIDAS is the burgeoning Global Data Cleansing market segment and the unprecedented growth of data generated by individuals that requires constant optimization attention.
MIDAS is based on an open standard-based J2EE application that uses flexible, scalable and robust proprietary tools and processes to address issues of data hygiene across industries and verticals. It is designed to meet the finest industry practices in the form of vertical-specific pre-canned data hygiene steps, data connectors and reports.
Akila Jaikumar, Sr. Vice President of BodhTree says “Most data quality management tools are geared to specific verticals. Bodhtree's offering is generic and can be easily customised to any industry. Its uniqueness comes from its ability to tackle the problem at the root level - the quality of data. Most businesses believe that the use of Business Intelligence tools solves the data quality problem. However, if the reports generated are based on poor quality data, these tools only help to make bad decisions faster.”
MIDAS is data security compliant that is equivalent to BS-7799 standards, and comes with a role-based access control mechanism (RBAC), secure FTP data transmission channels and 24/7 global delivery center support. BodhTree team of experts in tools like Informatica, BO Data Integrator, Oracle Warehouse Builder, XFusion, Pentaho Data Integrator, JBoss Metamatrix and Pervasive allow MIDAS to be leveraged with existing customer tools.
The solution is the outcome of market expertise gained through providing Fortune 250 and Forbes 200 clients with Data Management Services, Spend Management Services and Business Intelligence Solutions. BodhTree currently provides services to over 300 clients that represent healthcare, publishing, media, Pharma, finance, life sciences, entertainment, retail and distribution industries.
Speaking about the MIDAS architecture, Raghavan Madabhushi, Head – SOA&DW of Bodhtree said “MIDAS is built on an SOA and JSR 168-compliant architecture with in-built data connectors for industry leading OLTP/ERP/DSS systems like SAP, Oracle EBS, Salesforce, SugarCRM, Quickbooks, EDI Connectors, JMS, XML, CSV and MSExcel.
Bodhtree Consulting (bodhtree.com) is a specialty company offering IT services and solutions since 1999 in the niche areas of Business Intelligence, Data Management, Spend Analytics, Data Warehousing, SOA Consulting, Document Management, Patent and Trademark Analysis, Testing and Product Development Outsourcing. Bodhtree’s customer base covers healthcare, pharmaceutical, hi-tech, manufacturing, government and media organizations across the world.
Headquartered in India with sales offices in the USA and UK, Bodhtree is a public listed company. It has been the incubator for several companies with interests in other business areas including e-Publishing, e-Learning, Mobile Classified Search, etc.
With credible partners such as Owens & Minor (Spend Analytics for US Healthcare), HP and Confluent (High Tech and SOA), e2e Analytics (Business Intelligence and Analytics on Demand) and Microsoft (e-Publishing, e-Learning, and Mobile Classified Search), Bodhtree has created many customer success stories.