How Unstructured Data Hub Helps Remove Duplicate and Overlapping Products Faster
In the world of Mergers and Acquisitions, it is inevitable that while there will be a diversification of products and service offerings, there will also be duplication and overlapping of products from merged companies.
One of our clients, for example, is a global medical device company that went through a series of successful acquisitions that resulted in numerous duplicate parts and overlapping products in their inventory. This has led to a sizable portion of their working capital being tied up in excess inventory.
Mareana’s data experts helped by utilizing our Unstructured Data Hub (UDH) to save the company $300M by reducing duplicate and overlapping products.
How does Mareana’s UDH work?
Mareana’s Unstructured Data Hub uses Artificial Intelligence (AI) and smart algorithms to liberate, synchronize, unify, and contextualize data from images, text, emails, and other unstructured data sources.
- It enables a Google-like enterprise data search that helps data users to easily classify unstructured information into appropriate groups, improve search ranking, and link information from different records. It allows for easy identification of duplicates.
- It digitizes paper-batch records and unstructured drawings to accelerate data extraction and mining.
- It automates data extraction by eliminating manual and non-standard steps that are prone to errors and mistakes.
- It quickly and automatically analyzes large datasets from multiple internal and external systems by using industrialized Machine Learning and mathematical modeling.
For organizations to overcome the complexities of analyzing unstructured data, they need an intelligent and scalable technology solution that allows them to optimize unstructured data search, collection, categorization, extraction, and mining. With Mareana’s UDH, organizations can significantly reduce their inventories by removing duplicates and overlapping products faster.
Furthermore, Mareana assists manufacturing giants in streamlining their business by tightening their inventory so they can stock the ideal number of products for maximum revenue and eliminate oversupply and stockout scenarios. Let Mareana help you drive revenue growth and accelerate time to market by optimizing and de-risking your supply chain. Contact our data experts today!
