KPMG Relies On Datawatch Monarch Self-Service Data Prep Platform To Speed Time To Analysis

BEDFORD, Mass., Nov. 15, 2016 (GLOBE NEWSWIRE) -- Datawatch Corporation (NASDAQ: DWCH) today announced that KPMG is utilizing the Monarch self-service data preparation (prep) platform to access, blend, cleanse and prepare data for visualization and further analysis in Tableau. Many business users across the KPMG organization are relying on Monarch. Its Healthcare and Life Sciences Practice, in particular, has been utilizing the platform for more than three years to expedite assessments of its clients' financial performance. What used to take a team of people up to 12 weeks to complete can now be accomplished in approximately five weeks, resulting in substantial cost savings for KPMG's clients.

The KPMG Healthcare and Life Sciences Practice helps healthcare providers analyze their revenue cycles, identify where they may have operational shortcomings and determine how they can improve performance. As part of that process, KPMG must obtain and blend data from each client's multiple disparate systems to create point-in-time snapshots of the respective healthcare provider's business. Traditionally, this data was difficult to extract and consume; in fact, there were certain types of data that KPMG couldn't access at all, such as 835 Payer Remittance files. When Michael Duke, managing director at KPMG and long-time user of Monarch arrived at the firm in 2013, he introduced the Datawatch platform as the solution to the practice's data preparation problems.

Datawatch Monarch is equipping KPMG's business analysts to easily and rapidly mine data from any source, in any format (e.g. CSV, PDF, Excel and text-based extracts, etc.), and prepare it for analysis. The nature of the work KPMG performs for clients is very content rich, requiring team members to understand client data to manipulate it. Monarch makes it simple for business users to apply their knowledge and develop repeatable models that extract the right data for each assessment as well as ensure data accuracy and consistency - all without having to be IT savvy or employ advanced ETL processes.

"Datawatch Monarch is a powerful self-service solution that not only radically reduces the time we spend on data prep for each client assessment, but also gives us the ability to expand the breadth and depth of our analysis," said Duke. "Before employing Monarch, we used to have to make predictions about a client's financial performance improvement based on only 30 days' worth of data. Data prep was a hefty, manual process. Now, we can almost effortlessly take a year's worth of transaction-level data, equating to millions and millions of rows, and prepare it for visualization in Tableau. As a result, our predictions of clients' performance outcomes are far more informed and precise."

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