Dayton, Ohio — Nationwide Mutual Insurance Co. has been recognized for its innovative use of technology across and beyond the business to create and sustain highly significant and quantifiable business value, according to DM Review magazine and the Teradata Corp., division of NCR, a Dayton, Ohio, data warehousing and business intelligence technology provider.
DM Review, part of the SourceMedia Business Technology Group, which includes Insurance Networking News, created the Innovative Solution Awards to recognize groundbreaking solutions that provide real business value. Nationwide is a Teradata customer.
Nationwide was chosen based on the carrier's MDM system implementation, which not only extracts data from operational systems into the data warehouse, but also propagates MDM data back out to the operational systems to ensure the integrity and consistency of data throughout the enterprise.
The Nationwide business case entry outlined its massive implementation of a highly effective data management infrastructure featuring a centralized data warehouse for financial intelligence which supports an innovative Master Data Management (MDM) initiative. Named FOCUS (Faster, Online, Customer-driven, User-friendly, Streamlined), the data infrastructure represents the consolidation and centralization of data from more than 200 sources, integrating ledgers, charts and 300,000 spreadsheets once in use across the units. FOCUS has redefined the role and operating model of Nationwide's core finance functions, processes and systems.
"The Nationwide finance data warehouse is a vital component in a broader data integration infrastructure that knits together both analytic and operational systems," said Tobianna Zappe, data warehouse manager for Nationwide. "This qualifies Nationwide as one of the vanguard organizations successfully extending enterprise data integration technology beyond its single-purpose roots to form the foundation of a comprehensive information ecosystem that spans analytical and operational realms." As a result of the FOCUS initiative:
Nationwide has saved close to $1 million dollars in the first year due to improved processes and elimination of previous legacy processes, the company reports.
Productivity also has increased: compared to other departments with siloed information operating with around 80 people, the FOCUS core development team operates with only 10 members.
Source: DM Review Magazine
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