In response to the growing need to effectively manage data,technology solutions company Pitney Bowes Inc. released itsflagship Spectrum Technology Platform, which provides integrateddata quality, data integration, master data management (MDM) andanalytics capabilities to help insurers address Big Data challengeswith this unified platform. The platform is designed to be flexibleand efficient, enabling organizations to extract more value fromtheir data to drive profitability, deliver more personalizedcustomer experiences and reduce risk.

Through the technology platform, global banks can deliverpersonalized customer experiences across several business channelsby establishing a single customer identity across the enterprise.Pitney Bowes has also helped retailers apply the technology, whichallows them to increase the effectiveness of their catalog mailingprocess by over 50%, improving accuracy and reducing cycletime.

The new technology allows clients to deliver trusted data andinsights in context across touch-points, maximizing the value ofcustomer information through aggregating, cleansing andconsolidating data from disparate sources, enriched with corporateand third-party reference data. To make the data accessible, it ismodeled as knowledge graphs, built on graph database technology,allowing insurers to better leverage the information for optimizedbusiness practice and decision-making.

Knowledge graphs give businesses the opportunity to createmulti-dimensional views of the information to address specificfactors based on the needs of different areas of the business, suchas sales, marketing and compliance. For insurers, the platform canvisually depict a customer's risk profile. 

 "Clients today require more dynamic and flexiblesolutions to help them manage their customer information," saidNavin Sharma, vice president of Product Management, InformationManagement Software and Solutions at Pitney Bowes.

Other capabilities in the Spectrum Technology PlatformInclude:

• Visual Data Modeling. Using an intuitive"white boarding" approach delivered via a web UI, this featureallows businesses to model different outcomes, while managing thecomplex relationships and hierarchies while supportingcollaboration between business and IT functions.
• Process-centric Data Governance. Makingcorporate and external source data easily accessible, insurers canreview and resolve issues quickly based on analytics. The systemalso captures data trends, and visualizes them against establishedKey Performance Indicators to monitor the data assets and assets incontext of their processes.
• Big Data Readiness. With the ability to handlelarge data sets, combined with advanced clustering and in-memorycaching, organizations can process large volumes of data quicklyand effectively.
• Enhanced Entity Resolution: Companies gainhigh-performance access to disambiguated information for buildingcomprehensive customer views by leveraging the platform's advancedsearch feature, coupled with algorithms against unstructureddata.
• Industry and Application Certifications.Support for new standards and applications were added to theplatform, keeping up-to-date with the latest regulatory changes andstandard practices.