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Insights and Expertise

Three steps to So, how to harness data so you can be smarter in leveraging
it …
smarter data 1. Make sense of it

The first part of any process involving data is to make
sense of it. By cleansing raw data businesses can
ensure consistency and accuracy, which allows for
easier comparison across multiple sources. Only then
can you extract meaningful insights and use data for
both internal use and to meet external regulatory
requirements.

2. Standardization is key

You should aim for the ability to standardize data
from many different sources into a common language.
This makes the reconciliation and reporting process
much more effective, eliminating the need for time-
By Dr. Sophie Harbisher consuming (and avoidable) downstream data work.
Kani Payments
Ideally, data should come from multiple sources, such
ne of my favorite topics, and the thing I'm as processors that work with issuers of Mastercard or
asked about often, is smart data. But it's a Visa cards. Their transaction data is then pulled into
somewhat misleading phrase; data isn't inher- the system of the company that does data monitoring
O ently smart or not. What we are really talking and reporting. Typically, processors provide data in
about is how you use data, because if you build the right their own format.
processes and pipelines around data, it becomes a strate-
gic business asset—that's the smart bit.

Installation
& Setting