Managing data means managing revenue in the Consumption Economy™. As industry trends produce increasingly large data volumes, it will be critical to have the ability to correctly process the seamless flow of data between systems for billing, fraud management, partner reconciliation, revenue assurance and more.
The shift towards real-time charging means that the necessary data must be managed to ensure usage records are not lost, duplicated, corrupted or rejected by downstream systems. This puts high requirements on performance and leaves no margin for error when it comes to the customer experience. TRACT has a Data Mediation Engine that collects, formats, enriches, aggregates and processes raw event data from disparate sources in multiple formats. The data is subsequently normalized, validated and has specific business rules applied, such as rating. Mediation consists of:
- Collection: retrieve raw data
- Parsing and Mapping: verify file format and map to internal format
- Validation: verify record format and field contents
- Enrichment: optional data lookup and enhancement
- Aggregation: execute business rules
- Reformat and Output: create activity records for billing purpose
- Error Handling: void, recycle, reprocess
TRACT can process billions of usage events—anything you can measure—prepare the data for rating, allowing you to maximize your revenue opportunity.