format_quote Press Release

Teradata to Showcase the Benefits of Data-Driven Government at DATA Act Summit, Demo Day

June 4, 2015 | WASHINGTON

Tech innovators to illuminate, educate public officials on June 9, 10

Elected officials and public information regulators will have an opportunity to see the powerful potential of data-driven government during events hosted by the Data Transparency Coalition on Capitol Hill next week. On June 9, Teradata (NYSE: TDC), the big data analytics and marketing applications company, and other members of the Data Transparency Coalition (DTC) will demonstrate their technology solutions and related economic benefits during the annual DATA Demo Day at the Rayburn House.

Attendees will include Congressional supporters, Treasury Department and Office of Management and Budget representatives, White House staff, and other federal agency representatives. The activities will culminate on the following day, June 10, at the Walter E. Washington Convention Center at the DATA Act Summit. Continuing its support of the Coalition as an executive member, Teradata will demonstrate its solutions throughout the day.

According to a Coalition announcement, Senator Mark Warner and Michael Horowitz, Chair, Council of the Inspectors General on Integrity and Efficiency, will participate as keynote speakers at the DATA Act Summit.

The Data Transparency Coalition advocates on behalf of the private sector and the public interest for the publication of government information as standardized, machine-readable data. DTC members believe federal organizations should adopt non-proprietary data standards for the information they collect and generate, with a focus on spending, regulatory, legislative, and judicial activity. The Coalition, including Teradata, was a primary supporter of the Digital Accountability and Transparency Act -- the DATA Act, which became law in May of 2014.

“Teradata continues to be a strong voice and leading member of the Coalition, working on behalf of more efficient and effective government through data-driven innovation,” said Hudson Hollister, Executive Director of the Data Transparency Coalition. “Teradata’s support is huge, considering its recognized thought and product leadership in data integration and big data analytics.”

According to Brandon Lucado and Rick Harmison, Teradata industry consultants who will co-host the live Teradata demo on June 9 and 10, attendees can expect the demo experience to help them gain a better understanding of the powerful insights and value of data analytics.

“With higher levels of data integration and quality, agencies will soon be able to apply more sophisticated analytics to optimize their finance operations; to identify fraud and waste; and to improve financial and award reporting,” Lucado said. “The benefits of advanced analytics are significant and should be compelling to public sector agency decision-makers as well as users.”

During the DATA Act Summit on June 10, Teradata will host a panel discussion led by moderator Jeff Lovett, Vice President, Finance & Performance Management, Teradata.

“I have worked for years in the private sector with leading businesses that regard their data as a strategic asset which can be leveraged to better engage constituents, drive performance improvement, reduce costs and generate revenue. With advanced analytics, forward-thinking federal agencies and early adopters can have the foresight to transform this new compliance obligation into an opportunity to advance their agendas by becoming more data driven,” Lovett said.

During the panel discussion at the Summit, participants will explore important opportunities and challenges, including:

  1. Improved Data Quality – Existing financial data from federal agencies can be difficult to analyze due to different standards that agencies apply – and data from multiple sources is sometimes inaccurate. Through the DATA Act, agencies are required to apply new standards which will enable sharing of data that has been validated through regular audits.
  2. Increased Data Breadth – Today, most government organizations only share a small portion of the data they have, even when that data could be relevant and useful to other agencies. The DATA Act mandates that agencies share more information so that multiple organizations can benefit from comprehensive spending, regulatory, and legislative visibility.

The transformative potential of big data has been building momentum across the country in state and federal agencies that are adopting analytic, data-crunching computational engines to manage, explore and leverage enormous data volumes – to find better ways to serve and educate citizens as well as colleagues and fellow agencies.

For example, as a result of the innovative use of its large data warehouse, Michigan reports that the state and its constituents enjoy an impressive savings of $1 million per business day by way of fraud identification, operational efficiencies, and cost and sanction avoidance.

Teradata and the Coalition are committed to demonstrating the benefits of new data standards as they are implemented across federal government organizations. Technologies that have delivered exceptional results for the private sector can be put in place to deliver benefits for the government. These include better visibility, quality, accountability, resource management, and service to the public as they are enabled to interact in processes relevant to their interests.

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