Identity resolution for master data management is the process of resolving multiple instances of data that represent the same entity in a single record for that entity. This process is necessary to create a 360-degree view of customers, partners, suppliers, and others. It helps companies identify customers, partners, and suppliers in their data environments, including large local, hybrid, multi-cloud, and cloud-based data ecosystems. Identity resolution software provides a centralized system for resolving identities in all data and applications.
It makes information more reliable, improves customer service, increases operational efficiency, and boosts the reliability of data analysis. It can detect fraud, identify the best customers, and improve customer contact methods. Additionally, it can generate intelligent searches regardless of missing source data and improve risk management and compliance processes.Real-time identity data search, smart key creation and indexing, complexity management, retail optimization, and multi-language identity data matching are some of the benefits of identity resolution. It helps companies calculate risk with people exposed to political exposure and in high-risk countries.
For example, Informatica MDM and identity resolution software can be used to achieve this. Identity resolution is an essential tool for any organization that wants to get a clear picture of their customers' profiles. It helps them obtain accurate matches in identity records even if they are missing source data. Moreover, it allows them to search and compare identity data from dozens of countries at the same time. By resolving the identity, other data attributes such as telephone number, address, and social security number can help differentiate all these people or detect coincidences.