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Enhance Trade Compliance: Scan through free trade agreements to identify trade regulations and clauses that may impact you to avoid penalties. Pharmaceuticals and Healthcare: Optimize sourcing of raw materials, medications, and medical devices and forecast demand for drugs, predict inventory shortages, and optimize distribution networks.
However, most organizations don’t use all the data at their disposal to reach deeper conclusions about how to drive revenue, achieve regulatory compliance or accomplish other strategic objectives. Regulatory compliance. Metadata management is key to wringing all the value possible from data assets. What Is Metadata?
Promote cross- and up-selling Recommendation engines use consumer behavior data and AI algorithms to help discover data trends to be used in the development of more effective up-selling and cross-selling strategies, resulting in more useful add-on recommendations for customers during checkout for online retailers.
One of our customers cited echoed similar sentiments in the TEI study: The Forrester study also identified unquantified benefits for the composite organization: Reporting for internal management or audit compliance became easier as data was more efficiently stored and accessible in real time.
Thus, although compliance efforts now will mitigate costs in the future, the particular nuances of the law have yet to be finalized. Undertaking this process now will help mitigate the compliance burden come 2020 as it will make it easier for you and your business to respond to consumer demands for disclosure, deletion, and portability.
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